KKR, a global investment firm, has agreed to invest $40 million in preferred equity in Jet Edge International (Jet Edge), an Ohio-based specialist in full-service private aviation responsible for operating the largest fleet of Challenger and Gulfstream aircraft available for charter in the United States.
KKR is making the investment in Jet Edge through its credit funds and accounts focused on asset-based finance opportunities. The investment follows KKR’s USD150 million credit investment in the Company announced earlier this year.
The new investment will support the growth of Jet Edge’s Reserve membership program and rapidly expanding fleet. Jet Edge will also continue to make advancements in its technology and infrastructure, including optimized scheduling systems, artificial intelligence-based programs to maximize fleet efficiency, and a dynamic mobile application, all to further enhance the Reserve membership experience.
“We are pleased to invest in the growth of Jet Edge as a premier scaled private aviation operator with a leading membership program and world-class super-mid and large-cabin fleet,” says Dan Pietrzak, Partner at KKR. “At a time when the private aviation industry is experiencing historically high demand, the Jet Edge team continues to impress us with its innovative solutions to age-old inefficiencies and strong operational execution.”
Read more/Source: Private Equity Wire
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