Global Jet Capital

What It Is: An aircraft financing and sales company, Global Jet Capital had more than 175 airplanes valued at over $2.6 billion under management as of October 2019. 

How It Grew: Global Jet Capital launched in late 2014, chaired by 30-year aerospace-industry veteran Shawn Vick, who had previously held senior positions at companies such as Gulfstream, Bombardier, and Hawker Beechcraft. Vick is also a partner in private equity firm AE Industrial Partners, which along with GSO Capital Partners and the Carlyle Group, provided backing for Global. The company didn’t begin to write transactions until the first quarter of 2015; but by the end of that year, it had closed the first phase of a deal to acquire GE Capital’s $2.3 billion business aircraft portfolio and added 16 former GE employees to its staff. 

One of those employees is Dave Labrozzi, former president of corporate aircraft finance for GE Capital, who served as Global’s chief operating officer from December 2015 until June 2019 when his title changed to vice chairman. Labrozzi brought 34 years of experience from GE Capital and helped to expand Global’s offerings and international reach. Vivek Kaushal, another former GE Capital employee with more than 15 years of experience in risk management, also joined Global in December 2015, serving as chief risk officer until last June, when he became COO; he added the title of president in January. During the company’s initial expansion, Kaushal led its underwriting, portfolio and asset management, and operations.

With the GE Capital deal fully closed in first-quarter 2016, Global Jet Capital added more international employees, among them representatives in Hong Kong and Malaysia who joined the company in early 2017. In the first and second quarters of 2018, the company completed two asset-backed securitization offerings, raising $1.28 billion from additional investors including FS Investment Solutions and Kohlberg Kravis Roberts & Co. (KKR). With these funds, the Global Jet Capital began expanding overseas, adding offices in Hong Kong and Switzerland to its Connecticut, Florida, and Mexico City locations. 

What It Offers: A wide range of financial solutions for business aircraft, including operating and finance leases, progress payment financing, debt and load structures, equipment-upgrade financing, and inventory sales.

Recent News: In June 2019, Global Jet Capital closed its third asset-backed security offering, which raised approximately $517 million and brought total assets securitized to over $2.1 billion.

Fast Facts:  

Founded: 2014

HQ: Danbury, Connecticut

Employees: 50 

Revenues: undisclosed

Principals: Shawn Vick, chairman and CEO, and Vivek Kaushal, president and COO