AIP Capital closed a minority investment and joint venture agreement with Dreamstone Aviation Partners (DAP). AIP will hold ~30% of the shares in DAP and will join the board of directors.
The joint venture agreement will provide for greater cooperation between the two firms as AIP seeks to expand in Korea and the broader APAC region.
Jared Ailstock, Managing Partner, AIP said: “We are delighted to formalize our partnership with Dreamstone and Kenneth, who has been a partner with us for close to a decade. Dreamstone is one of the premier aviation teams in Korea with deep expertise across the sector. As investor appetite in Korea returns post-pandemic, we are confident this partnership will allow us to capitalize on those opportunities.”
Kenneth Kang, Chief Executive, Dreamstone Aviation Partners said: “We expect the partnership between AIP and Dreamstone to be an effective platform supporting our go-to-market strategy. We are confident that innovative ideas combined with decades of industry experience between the two firms will help us successfully execute the strategy today and in the future.”
Gibson Dunn acted as legal advisor to AIP in the U.S. with Shin & Kim advising in Korea. PwC provided tax advice.
Dreamstone Aviation Partners is a Korea-based consulting and investment firm that focuses specifically on the aviation sector by providing lease consulting, fundraising and airline IT systems to the APAC region.