New recruit to the aviation finance market, Crane Aircraft Partners, aims to tap the market for capital in the coming weeks.
The company, with bases in California and Michigan, expects to "begin fundraising for the new firm's first equity and debt funds within the next month", according to a company statement.
Crane will provide "multiple investment options for investors, including direct investments in commercial aviation assets".
The company is led by Robert Crane, who has more than 25 years of experience in commercial aircraft leasing and trading; Gary Ran, who is the chairman and founder of Telemus Capital Partners; and Gary Weisman, the owner of General Worldwide Aviation and a real estate developer.
The three have previously invested together in a number of aviation transactions during the past five years "valued at $100 million" and have raised "approximately $25 million in equity and debt capital".
"This new firm takes our very successful track record as commercial aviation investors to another level," says Crane, "and now new investors, as well as our earlier investors, can participate in new opportunities."
Adds Ran, "In the wake of the global financial crisis, there is a need for both equity and debt capital in the commercial aviation industry. We see a ripe opportunity to earn attractive investment returns. In addition, creating an aviation focused hedge fund allows us to benefit from the knowledge and insight we've gained from being active investors in commercial aviation assets."