Robert Korn and Bill Hoffman were architects of the rise of Apollo Aviation Group (now Carlyle Aviation Partners) since its inception in 2002.

In October 2018, the Carlyle Group agreed to acquire 100% of Apollo.

Apollo became a new business line, operating as Carlyle Aviation Partners, within Carlyle’s global credit segment.

The acquisition allows Carlyle’s global credit platform to offer long-duration exposure to commercial aviation markets through a variety of credit, equity and structured finance instruments.

As of June 2020, Carlyle Aviation Partners had total assets under management of $5.9 billion, with over 90 employees and offices in the US, Ireland, and Singapore. Its portfolio includes 251 aircraft owned, managed or committed to purchase with 96 airlines lessees in 52 countries.

Carlyle co-chief executive officer Kewsong Lee said: “This corporate acquisition expands Carlyle’s Global Credit capabilities, particularly in the growing asset-based credit market. Apollo Aviation Group is a scalable platform with strong growth prospects given its 16-year history and track record of performance.”

“Joining forces with The Carlyle Group allows us to continue to support our airline customers and play an even greater strategic role in the aviation sector,” said Korn.

According to Airfinance Journal’s 2019 Leasing Top 50, Carlyle Aviation is the 13th largest aircraft lessor by number of aircraft.

In 2019, the company also launched two asset-backed securitizations AASET 2019-1 and AASET 2019-2 with proceeds exceeding $900 million. The refinancings involved 54 mid-life aircraft. Carlyle Aviation is the largest servicer of aircraft ABS-like debt by number of issuances as of December 31, 2019.