Dubai Aerospace Enterprise (DAE) and Blackstone Credit & Insurance (BXCI) announced the formation of a new aircraft leasing venture called Equator, aiming to establish a diversified portfolio of commercial aircraft leased to airlines globally.
The newly formed entity is expected to target an annual asset deployment of $1.6B.
DAE will be responsible for sourcing aircraft assets from third parties while its aircraft investor services unit will oversee the management of assets owned by Equator. The collaboration is set to leverage Blackstone’s capital to strengthen DAE’s third-party fleet management franchise as highlighted by the firm’s CEO.
BXCI, a subsidiary of Blackstone, will contribute capital sourced from funds managed by partner ITE Management.
DAE is one of the largest aircraft lessors worldwide, managing nearly 700 aircraft across manufacturers such as Boeing, Airbus and ATR. The firm had over 100 aircraft valued at more than $4B, along with 17 servicing and management agreements for institutional and financial investors in FY25.
Recently, DAE secured new credit facilities from 15 global financial institutions, enhancing its liquidity to support expansion initiatives.
In February, the company reached an agreement to acquire Macquarie AirFinance from Australia’s Macquarie Group for an enterprise value of $7B.
DAE is owned by the Investment Corporation of Dubai, the principal investment entity of the Dubai government.
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