AE Industrial Partners Closes First Fund with $680 Million in Equity Commitments
Aggregate Fundraising and Co-investment Vehicles Total $840 Million of Capital Under Managmeent
Boca Raton, FL – April 12, 2016 – AE Industrial Partners, LLC ("AEI"), a leading private equity investor in aerospace, power generation and specialty industrial companies, announced today that it has closed its first fund –AE Industrials Partners Fund I, LP ("the Fund") – with $680 million in equity commitments. The Fund is one of the largest funds dedicated to investments in aerospace and related industry segments, including highly technical manufacturing, distribution and supply chain management, MRO (maintenance, repair and overhaul) and industrial service-based businesses.
The Fund significantly exceeded its $600 million target, with commitments from a diverse group of institutional investors – public and private pension plans, endowments, and alternative asset managers – and high net worth relationships, including family offices and aerospace executives.
AEI also said that it had raised an additional $160 million for co-investment vehicles, including its legacy investment in Global Jet Capital, which AEI owns with its partners The Carlyle Group and GSO Capital Partners.
"The successful closing of the Fund is recognition of AE Industrial’s established reputation and track record as a leading investor and value-added partner within the aerospace, power generation and specialty industrial markets," said David H. Rowe, Managing Partner of AEI. "With our debut private equity fund, we have substantial resources to devote to the broad range of investment opportunities we see domestically in aerospace and related industries."
"We are gratified by the enthusiasm and support from investors for Fund I," said Michael Greene, Managing Partner of AEI. "Through our current and prior investments and our significant industry operating experience, we have developed a deep understanding of the critical success factors in our target industries. Fund I opens new channels for investing capital into companies where we can provide significant value."
Eaton Partners, a Stifel Company, served as placement agent, and Gibson Dunn & Crutcher LLP served as legal advisor to AEI.
In the last 12 months, the Fund has made two platform investments: Belcan Corporation, a global supplier of engineering project management and technical staffing solutions, and Kellstrom Materials, which provides parts support and supply chain management for leading airlines and air transport operators worldwide. In addition, these platform investments have completed three add-on acquisitions: East Kilbride Engineering Services, Tandel Systems and The Aircraft Group.