AB CarVal and Investec have launched a new aviation financing platform aimed at providing secured, asset-backed loans to airlines and aircraft leasing companies, expanding the pool of non-bank capital available to the sector.
Under the structure, Investec will act as the exclusive originator and servicer of loans, while co-investing alongside funds managed by AB CarVal. The platform is designed to build a diversified portfolio of aircraft-backed debt assets, supporting fleet acquisition, refinancing and liquidity requirements across the global aviation market.
The partnership brings together Investec’s aviation lending and structuring capability with AB CarVal’s experience in asset-based finance and opportunistic credit investing. AB CarVal, which manages capital for institutional investors, has been active in aviation-related opportunities for several years, and the new platform formalises its ability to deploy capital into aircraft lending at scale.
The move reflects continued growth in demand for alternative sources of aircraft financing as airlines and lessors manage high delivery volumes, rising interest rates and tighter traditional bank balance sheets. Secured lending backed by aircraft assets has become increasingly attractive to institutional investors seeking predictable cashflows and downside protection, particularly as aircraft values and lease rates remain elevated in several market segments.
For Investec, the platform extends its role beyond balance-sheet lending by giving it access to third-party capital while retaining control of origination, underwriting and servicing. The bank will source transactions, structure the loans and manage the portfolio, while sharing risk and returns with AB CarVal-managed funds. This model allows Investec to scale activity without materially expanding its own capital deployment.
The platform is expected to focus on senior secured loans supported by aircraft collateral, with flexibility to support both operating lessors and airlines. Typical use cases include delivery financing, refinancing of existing debt and liquidity solutions tied to specific aircraft portfolios rather than unsecured corporate exposure.
The launch comes as competition intensifies in the aviation debt market, with private credit funds, alternative asset managers and insurance-backed investors increasingly active alongside traditional banks. Partnerships between specialist aviation lenders and institutional capital providers have become a key mechanism for expanding capacity while maintaining technical underwriting discipline.
AB CarVal and Investec did not disclose target portfolio size or return expectations, but the platform is intended to scale over time as deal flow develops. Both parties said the structure aligns incentives through co-investment and long-term portfolio management rather than transaction-by-transaction syndication.
The new venture adds to a growing ecosystem of aircraft-backed credit platforms seeking to capitalise on sustained financing demand driven by fleet renewal programmes, engine availability constraints and airline balance-sheet repair following the pandemic period.