KKR Expands Ownership in Altavair, Strengthening Long-Term Aviation Finance Partnership
Global investment firm KKR has announced a significant expansion of its ownership stake in Altavair, a leading commercial aviation leasing and financing platform, as well as its affiliated company AV AirFinance. The transaction, which will be funded directly from KKR’s balance sheet, reinforces the firms’ long-standing strategic partnership and underscores KKR’s growing commitment to the global aviation finance sector.
The increased investment builds upon a relationship that began in 2018, when KKR and Altavair formed a strategic partnership focused on acquiring, leasing, and financing commercial aircraft worldwide. Since that time, KKR-managed funds have committed more than $5 billion across a range of aircraft leasing and lending transactions, positioning the partnership as a meaningful capital provider within the aviation ecosystem.
Deepening a Strategic Alliance in Aviation Finance
The new ownership increase reflects KKR’s confidence in Altavair’s platform, leadership team, and ability to execute across multiple market cycles. Aviation assets, particularly leased commercial aircraft, continue to benefit from long-term global air travel demand, resilient asset values, and strong contractual frameworks that support predictable cash flows.
Daniel Pietrzak, Partner and Global Head of Private Credit at KKR, highlighted the strategic importance of the investment, noting that aviation plays a key role within KKR’s broader Asset-Based Finance strategy.
We are pleased to build on our long-standing relationship with Altavair and reinforce our commitment to the aviation sector, which is an important area of opportunity for our Asset-Based Finance strategy,” Pietrzak said. We look forward to supporting Altavair further with our long-term capital as it continues to meet the evolving fleet needs of airlines and operators around the world.”
Brandon Freiman, Partner and Head of North American Infrastructure at KKR, emphasized the resilience of commercial aircraft assets and Altavair’s ability to scale within a complex and global industry.
Commercial aircraft assets have proved to be highly resilient across market cycles, supported by long-term demand for global air travel and strong contractual protections,” Freiman said. “Altavair is well positioned to execute at scale across the aviation ecosystem, and we are pleased to expand our partnership as the platform continues to grow.”
Supporting Altavair’s Next Phase of Growth
Founded as a specialized investment manager in the leased aircraft market, Altavair has grown into a globally recognized platform with capabilities spanning aircraft acquisition, leasing, financing, and asset management. The expanded investment from KKR is expected to enhance Altavair’s ability to pursue new opportunities, support airline customers, and further diversify its portfolio across geographies and aircraft types.
Altavair Chief Executive Officer Steve Rimmer welcomed the increased investment and reaffirmed the strength of the partnership.
I am delighted to deepen our strategic partnership with KKR, and we appreciate the continued trust that this investment demonstrates,” Rimmer said. “Our working relationship has developed and matured over the last seven years, and KKR’s skillsets, expertise, and market knowledge have been integral to helping grow Altavair into the successful platform that it is today.”
Leadership Enhancements to Drive Expansion
Alongside the investment, Altavair announced key leadership appointments designed to support its next stage of growth. Matthew Hoesley, currently Chief Commercial Officer, will expand his responsibilities and assume the role of President and Chief Commercial Officer, reflecting the company’s focus on commercial execution and customer relationships.
In addition, Andrew Carpenter, Head of Tax & Accounting, will be promoted to Chief Financial Officer, strengthening the firm’s financial leadership as it scales operations and manages an expanding portfolio of aviation assets.
Positioned for Long-Term Growth
With increased ownership from KKR, a strengthened leadership team, and continued demand for modern and efficient aircraft, Altavair is well positioned to capitalize on long-term growth trends in global air travel. The transaction further highlights KKR’s conviction in asset-backed aviation investments and its strategy of partnering with specialized platforms to deploy long-duration capital at scale.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries..
About Altavair
Altavair L.P. is an aviation asset manager focusing on the acquisition of new and used commercial aircraft for leasing to domestic and international passenger airlines and cargo operators. Since its inception in 2003, Altavair has completed over $14.5 billion in commercial aircraft lease transactions with over 80 airline customers in 50 countries representing over 300 individual Boeing and Airbus aircraft. Altavair maintains offices in Seattle, Dublin, London, and Singapore. For more information, please visit www.altavair.com.
