Castlelake L.P., an alternative investment manager focused on asset-based private markets, has closed more than $2 billion in capital commitments for its fifth and largest aviation-focused fund.
The fund, Castlelake Aviation V Stable Yield L.P., along with related accounts and co-investments, attracted backing from global institutions including pensions, sovereign wealth funds and endowments.
“We are grateful for our investors’ support,” said Evan Carruthers, Castlelake’s CEO and chief investment officer. “The persistent shortage of flexible capital and undersupply of aircraft is creating a durable opportunity set.”
The fund will target high-quality, cash-generating aviation assets and secured aviation debt. Castlelake said it aims to apply its two decades of experience in aviation investing and asset management to pursue risk-adjusted returns.
Since its founding in 2005, Castlelake has invested more than $21 billion in aviation. The firm’s recent aviation activity includes a $740 million aircraft asset-backed securitization, a $1 billion term loan facility, and financing deals with Abra and Virgin Atlantic Airways.
Castlelake manages approximately $25 billion in assets and operates with more than 220 employees across offices in North America, Europe and Asia.
