Dubai plane lessor DAE partners with Blackstone to invest $1.6bn annually in portfolio

Dubai Aerospace Enterprise (DAE) and Blackstone Credit & Insurance (BXCI) have launched a joint venture, Equator, that will invest $1.6 billion a year to build a diversified portfolio of commercial aircraft to be leased to airlines worldwide. Under the arrangement announced on April 9, 2026, DAE will source assets from third parties while its Aircraft Investor Services unit will manage the assets owned by Equator, creating a third-party fleet management platform backed by BXCI’s capital.

“Blackstone’s scaled and flexible capital provides a strong foundation to grow our third-party fleet management franchise,” said Firoz Tarapore, chief executive of DAE. “Our fleet size, global customer and counterparty reach, and dedicated client support team makes DAE uniquely positioned to support Equator’s long-term success.”

Deal mechanics and partners

Equator pairs DAE, one of the world’s largest aircraft lessors, with BXCI, the credit and insurance arm of Blackstone. BXCI’s Infrastructure and Asset Based Credit Group manages more than $100 billion in assets and will provide investment capacity and structured financing to the platform. BXCI said capital for Equator will include funds managed by ITE Management, a strategic partner of BXCI.

Aneek Mamik, senior managing director and head of financial services for asset-based finance at BXCI, described the programme as a durable funding vehicle for the aviation sector: “This programme underscores BXCI’s focus on deploying flexible capital into high-quality investments backed by hard assets.” The companies said the structure is intended to enable flexible financing solutions across market cycles and a range of investment opportunities.

Key facts and scale

• Annual investment target for Equator: $1.6 billion.
• DAE fleet (end-2025): approximately 700 aircraft, including more than 100 under third-party management valued at over $4 billion.
• BXCI Infrastructure and Asset Based Credit Group manages >$100 billion in assets.
• DAE agreed in February to acquire Macquarie AirFinance for $7 billion; combined fleet on completion: 1,029 owned, managed and committed aircraft serving 191 airlines in 79 countries.
• Narrow-body jets will constitute about 70% of the combined DAE-Macquarie fleet.

The tie-up comes as the aviation finance market expands, driven by airlines’ increased demand for jets amid persistent aircraft supply constraints. DAE said Equator will build a diversified portfolio across aircraft types and regions, with DAE’s Aircraft Investor Services group responsible for day-to-day management of assets held by the platform.

Looking ahead, DAE expects to “provide a full spectrum of capital to support the programme,” positioning Equator to offer flexible financing solutions throughout market cycles, the company said. The move further extends Blackstone’s presence in aviation finance and deepens DAE’s third-party management footprint at a time when consolidation — exemplified by the pending Macquarie AirFinance acquisition — is reshaping the global plane-leasing industry.