Willis Lease Finance Corporation (WLFC) has entered into a $600 million credit‑funding partnership with Liberty Mutual Investments (LMI), the investment arm of Liberty Mutual Group. The agreement provides WLFC with up to $600 million in capital that will be deployed to expand its credit‑leasing portfolio for aircraft engines, a move that is expected to accelerate the company’s growth in loan and loan‑like engine financings.
WLFC pioneered the revolving credit lease model for aircraft engines in 2021, allowing airlines to lease engines on a flexible, credit‑based basis. The new capital commitment from LMI, a global investment manager overseeing more than $117 billion in assets, gives WLFC the financial depth to pursue larger and more complex credit opportunities, reinforcing its position as a niche player in the aviation engine‑leasing market.
The partnership is supported by a warehouse debt facility from Bank of America, which provides WLFC with additional liquidity and flexibility to fund new credit deals. Bank of America has a history of working with WLFC, having served as the administrative agent for a $1 billion revolving credit facility in November 2024 and as a co‑lead structuring agent for a $500 million secured credit facility in May 2024.
WLFC’s Global Head of Managed Funds and Credit, Brian R. Hole, said the partnership would “continue building our credit strategy and accelerate growth of our asset‑management business.” LMI’s Alex Kayvanfar and John Kim added that combining WLFC’s aviation expertise with LMI’s investment capabilities would “support growth and pursue adjacent opportunities across aviation finance.”
The infusion of capital will enable WLFC to deepen its credit‑leasing portfolio, enhance underwriting capacity, and potentially increase market share in the specialized engine‑leasing sector. By leveraging the new funding, WLFC can also expand its ConstantThrust program, which replaces a removed engine with a serviceable one from its portfolio, reducing downtime and maintenance costs for airlines.
The deal aligns with a broader industry trend of specialized alliances between leasing companies and institutional investors, allowing firms to navigate market dynamics and provide scalable capital solutions in aviation finance. With LMI’s backing, WLFC is positioned to capture growing demand for flexible engine financing as airlines seek to modernize fleets and manage capital more efficiently.
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