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Start-up targets large business jet financing with $2bn fund

Three global investment firms have launched a new leasing service – dubbed Global Jet Capital – with more than $2 billion in available financing catering to the large-cabin, long-range business jet market.

The Boca Raton, Florida-based firm will be aimed at filling a perceived gap in in business jet financing services as some traditional lending sources have become last active over the last three years, says Shawn Vick, chairman of Global Jet Capital’s executive committee.

“The conditions are right for asset-based structured financing services,” Vick says.

Global Jet Capital will offer a broad range of financial services on new and used business jets, including operating and interim leases, finance leases and mortgage loans, progress payments and mezzanine financing, the company says.

In addition to uniting GSO Capital Partners, the Carlyle Group and AE Industrial Partners, Global Jet Capital also will bring together ex-Gulfstream executives Shawn Vick, Bill Boisture and David Rowe. Vick and Boisture also worked together at Hawker Beechcraft where they helped guide the company through bankruptcy.

"As a result of our structure, capitalisation and flexibility, we have financing solutions that may not be available from traditional lending sources,” Rowe says.

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