Certain of Owl Rock’s funds made an initial equity commitment to Amergin Asset Management, a newly formed portfolio company created to invest in a leasing platform focused on railcar and aviation assets.
The capital will enable Amergin to build a portfolio of assets across rail and aviation. Amergin will be headquartered in Boca Raton, FL, and be led by Mark McGreenery, a 35-year veteran who most recently served as the CEO of Infinity Transportation, a $2.2 billion AUM lessor of rail, aviation and intermodal assets under the Global Atlantic umbrella. McGreenery was previously a partner at Perella Weinberg, where he was one of the leaders for the asset-based value fund from 2008 to 2016. In addition to McGreenery, Amergin will be led by a senior management team made up of executives who previously worked with McGreenery and have more than 100 years of combined experience.
“The transportation equipment leasing space is an attractive asset class, underpinned by long lived infrastructure-like assets that generate steady cash flows,” Craig Packer, co-founder of Blue Owl and the CEO of Owl Rock’s business development companies, said. “With Mark and his experienced management team at the helm, Amergin has the opportunity to generate long duration, uncorrelated returns at scale. We are excited about the partnership and look forward to what he and the team will accomplish over the long run.”
“We are excited to build this business with the investment from Owl Rock. This will enable Amergin to create a scaled portfolio of railcar and aircraft assets,” McGreenery, who will serve as CEO of Amergin, said. “Amergin’s management team and I are excited to build a differentiated leasing platform that will drive real value for all our stakeholders.”
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