Credit funds and accounts managed by KKR, a global investment firm, has agreed to provide a credit facility of up to $150 million to Jet Edge International, a global provider of full-service private aviation responsible for operating a fleet of managed Challenger and Gulfstream aircraft in the United States.
“The $150M investment from KKR comes at an ideal time for Jet Edge as the demand for private jets continues to increase,” Jet Edge CEO Bill Papariella tells Mergers & Acquisitions.
“Jet Edge has built a reputation as a best-in-class, scaled operator in the private aviation market,” said Dan Pietrzak, partner at KKR. “This transaction continues our asset-based finance strategy of providing long-term funding to leaders in the global aviation sector so they can invest in their businesses and capture opportunities as the market recovers.”
Patrick Clancy, principal at KKR, added, “We have been impressed by Jet Edge’s strong operational capabilities and innovative approach to solving the pain points of private aircraft ownership and chartering. Bill and his team put their clients at the center of everything Jet Edge does and we are excited to invest in their continued success.”
Demitri Diakantonis contributed to this story.