Bain Capital Credit teams up with Griffin GAM to launch aviation leasing joint venture

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Bain Capital Credit and Griffin Global Asset Management have launched a joint venture to build a commercial aviation leasing and asset management platform.

The new platform will use capital from Bain’s credit arm to buy and lease aviation assets worldwide through office in Dublin and Los Angeles.

Griffin, led by founder Ryan McKenna, will provide the lease management services for the platform.

“Ryan has a proven track-record of innovation in the aircraft leasing industry, and we are excited to join forces for this long-term partnership,” said Bain Capital Credit managing director Matt Evans.

“As the global commercial aircraft market continues to experience strong tailwinds, we are well-positioned to be able to provide the financing solutions necessary to help airlines and leasing companies efficiently manage their capital needs.”

Bain Capital Credit has about $41bn in assets under management, with investments across strategies including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities.

In July last year, Bain Capital’s credit unit agreed a $500m joint venture with SKW Funding to invest in distressed real estate debt opportunities in New York City.

The India Resurgence Fund launched by Bain Capital Credit alongside Piramal Enterprises recently secured a 225m commitment from the Canada Pension Plan Investment Board.

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