GA Telesis, LLC (“GA Telesis”) and Wafra Capital Partners Inc. (“WCP Inc.”) jointly announced today that GA Telesis has raised a new $500 million investment vehicle from institutional and private clients advised by WCP Inc. to establish a second aviation investment vehicle focused on aircraft and engine investment opportunities. This capital raise constitutes the second round of funding from WCP Inc.
The vehicle will be named GA Telesis Aviation Investments 2 LLC (“GAIN 2”) and will be managed by GA Telesis Capital Management, LLC, a wholly owned subsidiary of GA Telesis. Together with this capital raise, GA Telesis’ own capital, and existing credit facilities, GA Telesis Aviation Investments LLC’s capacity for investments is up to $2 billion.
In 2014, GA Telesis and WCP Inc. launched GAIN 1. The vehicle’s realized performance to date has exceeded expectations on a broad range of investments in commercial aircraft and engine leases. Almost all assets in GAIN 1 have been harvested.
GAIN 2 will seek to make investments in commercial aircraft, engines, airport infrastructure equipment and new generation component inventories, for long-term or short-term lease and financing. GAIN 2 has the broad flexibility to make investments with a variety of durations over a wide range of asset types and across the capital structure. GA Telesis currently owns and manages a fleet of 30 aircraft and 60 engines and has disassembled an unprecedented 300 aircraft and 700 engines since 2002.
“We achieved a significant realized return for WCP Inc. in the original GAIN vehicle,” commented GA Telesis CEO, Abdol Moabery. “We are pleased to be WCP’s ongoing strategic aviation investment partner with the launch of GAIN 2 and this is yet another affirmation of GA Telesis’ ability to raise capital and deliver on an impressive record of identifying and managing aviation investments.”
“Partnering with GA Telesis in GAIN 1 delivered excellent returns. Naturally, we are thrilled to invest in GAIN 2 alongside this successful management team,” said Michael Gontar, Chief Investment Officer of WCP Inc.
About GA Telesis
GA Telesis is the global provider of integrated aviation solutions serving the aviation and aerospace industries. The Company helps its customers achieve higher levels of performance by creating custom-tailored, multi-faceted solutions integrating its financial asset structuring expertise with component supply chain solutions, jet engine, aircraft systems and aerostructures MRO services. GA Telesis serves over 2,000 customers on six continents supporting all Airbus, Boeing, Bombardier and Embraer aircraft as well as CFM International, General Electric, International Aero Engines, Pratt & Whitney, and Rolls-Royce jet engines.
About WCP Inc.
WCP Inc., a New York-based SEC-registered investment adviser, provides investment advisory services to its clients and focuses on structuring and advising investment vehicles, on a principally Shariah-compliant basis, in the asset-based, structured finance and real estate arenas. WCP Inc., originally the Structure Finance division of Wafra Investment Advisory Group, Inc., became a separate SEC registered adviser in 2011 and is majority beneficially owned by the Public Institution for Social Security of Kuwait, an autonomous agency controlled by Kuwait. WCP Inc.’s senior leadership is comprised of the former employees Structured Finance and Business & Product Development Divisions.