by The Carlyle Group | April 22, 2010 |
Global private equity firm The Carlyle Group and RPK Capital Management, an aircraft leasing and investment company, today announced they have formed a partnership to invest $600 million in equity in a spectrum of global commercial aviation assets, including, aircraft, engines, and related securities and loans. With leverage, the new partnership, RPK Capital Partners, is expected to purchase well over $1 billion in aviation assets. The equity comes from Carlyle Partners V, Carlyle Strategic Partners II, RPK principals and other investors.
Carlyle Managing Director Adam Palmer said, “This new partnership marries Carlyle’s global footprint and decades of aerospace experience with RPK’s proven ability to create value in complex situations in the commercial aircraft sector at this opportune time. RPK’s responsive, creative and disciplined approach has enabled them to generate consistently superior returns.” RPK Co‐founder and Managing Partner James Raff said, “We are excited to partner with The Carlyle Group and leverage their global reach and relationships in this sector. There is a significant need for capital and expertise in the commercial aviation investment sector at this time. This new partnership will provide creative fleet solutions and liquidity to airlines, lessors, financial institutions and other non‐traditional owners of aviation assets worldwide.”
RPK is an integrated aircraft leasing and investment company founded in 2004 with headquarters in Chicago and offices in New York, San Francisco and London. The senior management team comprises four veterans of the aviation industry: James Raff, Paul Redman, Robert Gates and Christopher Chaput, who have extensive experience in acquiring, leasing, remarketing and financing aircraft, as well as substantial experience in aircraft related capital markets transactions. Concurrent with the closing of this transaction, Chris Chaput, who will be based in RPK’s New York office, joins RPK Capital Partners from The Seabury Group where he was a partner and head of structured finance. RPK’s capital base, flexible business model and unique transactional expertise allows it to provide tailored solutions to its various customers’ specific financing and fleet needs. Raymond Whiteman, Managing Director and Co‐head of Carlyle’s Global Distressed and Corporate Opportunities Fund, said, “Jim and his partners bring the right mix of industry expertise and financial acumen to grow RPK Capital Partners into an industry leader while helping their customers manage the many secular pressures facing the aviation industry.”
Carlyle was advised by Evercore Partners and Debevoise & Plimpton LLP. RPK was advised by The Seabury Group and K&L Gates LLP.
April 22, 2010
Washington, DC and Chicago, IL