Milbank LLP advised PK Airfinance, a leading aviation lending platform backed by Apollo (NYSE:APO), on its agreement to acquire the majority of an approximately $920 million portfolio of secured aviation loans from Standard Chartered, with Apollo affiliates agreeing to purchase the balance of the portfolio.
Apollo’s aviation business, including the PK Airfinance platform, serves as a go-to lender in the industry with over $40 billion of commitments to-date and a current loan portfolio of $4 billion, in an asset class that has shown resilient historical performance throughout market cycles. Apollo and PK Airfinance have built extensive relationships across the industry and serve more than 80 borrowers across 40-plus countries. PK Airfinance is a premier specialized aircraft and aircraft engine lending business with deep expertise in the aviation finance sector. Apollo is a high-growth, global alternative asset manager with approximately $617 billion of assets under management as of June 30, 2023.
The Milbank team was led by Drew Fine, partner and chair of Milbank’s Transportation and Space and Finance practices, Dean W. Sattler, Global Corporate/M&A partner and head of Milbank’s US Corporate/M&A practice, and London-based Corporate/M&A partner Lisa O’Neill, and included a multidisciplinary group of international attorneys across Milbank’s Transportation and Space, Global Corporate/M&A and Global Tax practices based in New York and London.
