Barings, one of the world’s leading investment managers, today announced that it has entered into a purchase agreement to acquire a portfolio of narrow-body commercial passenger aircraft through its Capital Solutions platform, which invests across the capital structure to deliver tailored solutions, partnering with Genesis, the full-service aircraft lessor that is wholly owned by Barings-managed funds, to originate, underwrite, and manage this portfolio of aircraft.
The portfolio includes 12 end-of-life narrow-body aircraft and their associated leases, which are valued in excess of $200 million. Consistent with the Barings Capital Solutions team’s investment approach, the transaction is structured to provide investors with contractual cash returns and additional upside through asset appreciation.
“We are excited to partner with the Genesis team on this unique transaction which highlights the expansive origination capabilities of both platforms,” said Michael Searles, Head of North America for Barings Capital Solutions. “We see significant value in the mid and end-of-life aircraft space in today’s market as global travel has recovered above pre-pandemic levels, while supply chain disruption has contributed to a supply-demand imbalance.”
“We are proud that over the past 10 years, Barings and Genesis have built substantial in-house commercial aircraft investment capability to originate, underwrite, actively manage, and deliver strong risk adjusted returns across the full life cycle of a commercial aircraft investment,” said Karl Griffin, Chief Executive Officer, Genesis.
Barings’ Capital Solutions team originates, underwrites, structures, and prices risk with the intent to provide attractive returns throughout market cycles that are less correlated with traditional debt and equity strategies. The strategy pursues public and private market opportunities across the capital structure, with a focus on secured debt, leveraging the sourcing and structuring expertise of the entire Barings platform globally to develop tailored solutions for counterparties.
About Barings
Barings is a $421+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.
* Assets under management as of December 31, 2024
About Genesis
Genesis was established in 2014 by global asset management firm Barings. It is a full-service narrow-body aircraft lessor based in Dublin with a portfolio of 68 owned, managed and committed Airbus and Boeing commercial aircraft. ReGEN is the component Trading division of Genesis, extending the platform’s capabilities into the aircraft component aftermarket providing supply chain solutions for our global customer base.
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