KKR, has agreed to invest USD40 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 optimised scheduling systems, artificial intelligence-based programs to maximise fleet efficiency, and a dynamic mobile application, all to further enhance the Reserve membership experience.

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Source: Private Equity Wire