Blackstone has formed a strategic aircraft engine leasing partnership with Willis Lease Finance Corporation (WLFC), committing $1 billion over the next two years. The initiative will leverage Blackstone Credit and Insurance’s (BXCI) private credit platform to target the aircraft engine asset class—a segment drawing increasing interest from investors seeking exposure to real assets. 

According to the firms, WLFC, a U.S.-based aircraft lessor and aviation services provider, has already identified a seed portfolio and a near-term pipeline of engine assets slated for transfer into the partnership. 

“This opportunity is consistent with BXCI’s objectives of building programmatic, differentiated origination in large addressable markets, with a focus on hard assets and strong downside protection,” said Aneek Mamik, senior managing director at BXCI. 

The agreement underscores growing momentum among alternative asset managers in the aviation sector. Monroe Capital and AIP Capital launched a joint aircraft leasing venture in July 2025, while Oaktree and AB CarVal have also flagged aviation-backed finance as an area of opportunity. 

BXCI’s infrastructure and asset-based credit group currently oversees more than $100 billion in assets under management. 

BNP Paribas served as sole structuring agent and advisor to BXCI.