Bain Capital has launched JB Aircraft Finance, a corporate jet financing and leasing platform that will provide loans to aircraft owners and operators.
The new platform has been established in partnership with aviation executive Thomas Garbaccio and Florida-based aerospace company Brickell Asset Management.
JB Aircraft Finance will focus on mid-life corporate aircraft, offering asset-backed loans, operating leases, financial leases and bespoke financing solutions, according to Bain Capital, which manages $215bn (£159.9bn) in assets.
The finance will be available to aircraft owners, operators, original equipment manufacturers, brokers and intermediaries.
“By tailoring our financing solutions specifically to mid-life aircraft, JB Aircraft Finance, is addressing an underserved segment of the market,” said Garbaccio, chief executive of JB Aircraft Finance.
The launch comes as alternative asset managers expand their presence in aviation finance. Earlier this year, Blackstone partnered with Dubai Aerospace Enterprise to invest $1.6bn annually in commercial aircraft leasing.
Elsewhere, US asset managers Monroe Capital and AIP Capital have launched a joint aircraft leasing venture focused on mid-life aircraft on long-term leases to airlines worldwide.
“JB Aircraft Finance is addressing a clear gap in the corporate aircraft market by providing flexible, asset-backed financing solutions for mid-life aircraft – an area that has been underdeveloped compared to commercial aircraft leasing,” said Matt Evans, partner at Bain Capital Special Situations.
