BlackRock, following through on a commitment announced last year, will invest in regional aircraft lessor TrueNoord, enabling the lessor to boost its aircraft acquisition strategy and broaden its financing options for customers.
BlackRock will be co-investing funds it manages alongside Bregal Freshstream, which announced its move to take a stake in TrueNoord last June. That announcement noted BlackRock would become an investor.
"With the backing of Bregal Freshstream and our new investor, BlackRock, we are poised to accelerate the momentum that we have generated to date as we look to expand into key growth markets such as Southeast Asia and Latin America, where the demand for regional aircraft is booming,” TrueNoord CEO Anne-Bart Tieleman said.
TrueNoord recently bought six Embraer E190s from BOC Aviation with leases attached. Tieleman expects similar opportunities to boost TrueNoord’s fleet as lessors continue to “trade aircraft briskly,” aided by “innovative” financing structures using capital market funds.