Crestone Air Partners has partnered with Blue Owl Capital to acquire a fleet of mid-life commercial jet aircraft that are leased to airlines globally.
The pair have created the Blue Crest Aviation Partners joint venture, anchored by Blue Owl-managed funds, to acquire assets.
Kevin Milligan, CEO of Crestone Air Partners, said: 鈥淏lue Crest Aviation Partners represents the next step of scaling for our platform. We鈥檙e proud to continue building with Blue Owl鈥檚 funds and deepen our alignment through a dedicated vehicle targeting opportunities in the mid-life aviation market.鈥�
Ivan Zinn, the head of alternative credit at Blue Owl, said: 鈥淭his joint venture builds on years of successful partnership between Blue Owl鈥檚 alternative credit funds and Crestone. We鈥檙e excited to continue supporting the platform with a further investment of strategic capital.鈥�
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