U.S. private equity firm KKR & Co. Inc. (KKR) on Wednesday announced that it would commit $1.4 billion of equity to expand its aircraft leasing portfolio in partnership with Altavair, its third such deal with the commercial aviation lessor.
The investment will primarily come from KKR's Infrastructure and Asset-Based Finance strategies.
KKR and Altavair have acquired 188 commercial aircraft and engine assets since forming a strategic partnership in 2018, leasing them to 67 airlines and cargo operators worldwide.
"As airlines face significant fleet funding needs in the coming years, this expanded commitment positions us to be an even stronger partner and supporter across the aviation ecosystem", said Steve Rimmer, CEO of Altavair.
On the NYSE, shares of KKR closed Tuesday's trading 0.91 percent higher at $98.97.
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