FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--GA Telesis LLC (“GA Telesis”) and Wafra Capital Partners Inc. (“Wafra Capital Partners”) jointly announced today that GA Telesis has raised $500 million from institutional and private clients advised by Wafra Capital Partners to establish a new aviation investment vehicle focused on aircraft and engine investment opportunities. The vehicle will be named GA Telesis Aviation Investments LLC (“GAIN”) and will be managed by GA Telesis Capital Management, LLC, a wholly owned subsidiary of GA Telesis. Together with the capital raise, GA Telesis’ own capital, and existing credit facilities, GAIN’s capacity for investments is up to $1 billion.
GAIN will seek to make investments in commercial aircraft, engines and new generation component inventories, for long-term or short-term lease. GAIN will also acquire assets for immediate disassembly and resale of the components and parts. GAIN has broad flexibility to make investments with a variety of durations in a wide range of asset types and across the capital structure. GA Telesis currently owns and manages a fleet of 60 engines and 30 aircraft and has disassembled nearly 200 aircraft and 500 engines since 2002.
“We are honored to be Wafra Capital Partners’ strategic aviation investment partner,” commented GA Telesis CEO, Abdol Moabery. He noted “this capital will further expand GA Telesis’ current ability to invest in high-yielding aviation asset investment opportunities at a very exciting time in the industry.” Moabery also commented: “The capital raise builds on the company’s preeminent role and impressive record of identifying and managing aviation investments. The company has long been a leading originator and manager for many notable aviation investors in addition to its own investments.”
“Partnering with GA Telesis in GAIN offers our stakeholders and clients unparalleled access to aviation focused deal flow combined with a management team that possesses the capabilities (as demonstrated by their outstanding track record) to successfully capitalize on these opportunities,” said Michael Gontar, Chief Investment Officer of Wafra Capital Partners. “We are excited to be an investor in this industry-leading platform.”
About GA Telesis
GA Telesis, LLC is a leader in providing worldwide support services to the commercial and defense aerospace industries. With financial, supply chain, component and heavy jet engine MRO businesses spanning the globe, GA Telesis is recognized as a pioneering leader in innovative solutions-based services in its sector. GA Telesis is one of the few independent companies in the world capable of providing a total-support solution to its customers from its front door, with several fully integrated operations throughout North America, Europe and Asia. GA Telesis also provides leasing and asset management services and maintains an extensive portfolio of assets. In 2014, the company formed its GAIN subsidiary with an initial $500 million (US) commitment from Wafra Capital Partners Inc. GAIN’s charter will be to invest its capital in aircraft, engines, mezzanine financings and other aviation related instruments.
About Wafra Capital Partners
Wafra Capital Partners Inc., a U.S. registered investment advisor that is beneficially majority owned by an autonomous agency of the government of Kuwait, provides investment advisory services to its clients and principally focuses on structuring and advising investment vehicles in the equipment leasing, structured finance and real estate arenas that generally are intended to comply with Shari’ah principles.
For further information, please visit www.gatelesis.com/capital-management