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Blackstone starts new fund for luxury-jet market
Group joins growing list of lenders eager to get a share of the projected US$280b business
Add BT as a preferred sourcePublished Mon, Oct 20, 2014 · 09:50 PM
Orlando, Florida
BLACKSTONE Group LP, vying with financiers including Citigroup Inc, is starting a new fund to provide loans for a luxury-jet market projected to reach US$280 billion over the next decade.
The fund's creation adds Blackstone, the world's largest alternative-asset manager, to a growing roster of lenders taking advantage of a business-aviation rally. The fund says it will be able to finance as much as US$2.5 billion in plane purchases and will focus on the biggest models costing US$30 million or more.
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