Carlyle Aviation Partners Announces AASET 2025-1 Asset-Backed Securitization
Deal News | Feb 19, 2025 | The Carlyle Group
Carlyle Aviation Partners, an arm of The Carlyle Group, announced the closure of its seventeenth aircraft portfolio transaction, AASET 2025-1 Trust, marking the first commercial aircraft asset-backed securitization (ABS) of 2025. This secured $518 million aimed to purchase a fleet of 23 aircraft, showcasing strong market demand for aircraft securitization. AASET 2025-1 features an innovative master trust structure that allows greater flexibility and diversification, offering benefits to both issuers and investors. The transaction underscores Carlyle Aviation's leadership in the ABS market, with key roles played by Goldman Sachs as structuring agent and Milbank LLP as issuer counsel. The secured notes from the transaction adhere to Rule 144A and Regulation S of the Securities Act, restricting initial sale to qualified institutional buyers and international investors. Carlyle Aviation Partners operates globally from offices in the US, Ireland, and Singapore, and is part of Carlyle's Global Credit business with $194 billion under management.
Sectors
- Aviation Finance
- Investment Management
- Private Equity
Geography
- United States – Carlyle Aviation Partners is part of The Carlyle Group, headquartered in the US, with the transaction adhering to US Securities regulations.
- Ireland – Carlyle Aviation Partners operates in Ireland, highlighting its international reach and the significance of its operations there.
- Singapore – The company's presence in Singapore underscores its strategic operations in the Asia-Pacific aviation market.
Industry
- Aviation Finance – The article focuses on an asset-backed securitization deal involving a commercial aircraft portfolio, an integral segment of aviation finance.
- Investment Management – Carlyle Aviation Partners is part of a larger investment management firm, focusing on deploying capital effectively in aviation.
- Private Equity – The Carlyle Group, the parent company, operates as a private equity firm with extensive investments across varied sectors, including aviation.
Financials
- $518 million – The total value of Secured Notes issued by AASET 2025-1 for purchasing a portfolio of 23 aircraft.
- $194 billion – Total assets under management by Carlyle Aviation Partners as of September 30, 2024.
- $447 billion – Total assets under management by The Carlyle Group, reflecting its large-scale investment operations.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Carlyle Aviation Partners | Issuer | Company | A division of The Carlyle Group focused on aviation investment and servicing, managing a significant global aircraft portfolio. |
| The Carlyle Group | Parent Company | Company | A global investment firm with various business segments including Private Equity and Global Credit. |
| Goldman Sachs | Structuring Agent, Global Coordinator, Joint Lead Bookrunner | Company | Investment bank and financial services company playing a crucial role in structuring and coordinating the transaction. |
| Milbank LLP | Issuer Counsel | Company | Provided legal counsel for the transaction. |
| Phoenix American | Managing Agent | Company | Managed the transaction, offering administrative services. |
| Javier Meireles | CEO of Carlyle Aviation | Person | Chief Executive Officer at Carlyle Aviation Partners, overseeing operations and strategic direction. |
| Bill Hoffman | Chairman of Carlyle Aviation | Person | Chairman, responsible for providing leadership and vision for the company. |