Blackstone has entered into a strategic aircraft engine leasing partnership with Willis Lease Finance Corporation (WLFC), with $1bn (£742.3bn) set to be deployed over the next two years.
The deal will leverage Blackstone Credit and Insurance’s (BXCI) private credit platform to target the aircraft engine asset class, as aviation continues to attract growing investor interest. Overall, US-based BXCI’s infrastructure and asset-based credit group manages more than $100bn.
According to the firms, US aircraft lessor and aviation services provider WLFC has identified a seed portfolio and near-term pipeline of engine assets expected to be transferred into the partnership.
“Willis is a leading lessor of commercial aircraft engines and brings unparalleled technical expertise, deep customer relationships and a proven track record,” said Aneek Mamik, senior managing director at BXCI. “This opportunity is consistent with BXCI’s objectives of building programmatic, differentiated origination in large addressable markets with a focus on hard assets and strong downside protection.”
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BNP Paribas acted as sole structuring agent and adviser to BXCI for the partnership agreement.
“We are excited to partner with BXCI, whose scale and long-term capital commitment will accelerate the growth of our asset management business,” said Austin C. Willis, chief executive of WLFC. “Blackstone is a leader in asset-based credit, and their investment demonstrates the strength of our position in aircraft engine leasing and their belief in our ability to generate attractive returns through disciplined asset selection and active management.”
The partnership comes as other alternative asset managers are also showing interest in the aviation space. Monroe Capital and AIP Capital announced a joint aircraft leasing venture in July 2025, while Oaktree and AB CarVal have also highlighted opportunities within the asset-backed finance market.
