Intrepid Aviation today announced the successful closing of a capital raise in excess of US$400 million from new and existing investors, increasing Intrepid’s equity capital commitments to approximately US$650 million. Funds managed by Centerbridge Partners, L.P. led the new investment in Intrepid alongside an increased commitment from funds managed by Reservoir Capital Group and an investment from Intrepid’s management team. With the expansion in its capital base, Intrepid will be well positioned to take advantage of growth opportunities in the industry.

“We are delighted with our success in attracting capital to the aircraft finance industry, in particular in the widebody leasing segment,” said Franklin Pray, Chief Executive Officer & President of Intrepid Aviation. “With the additional capital we are looking forward to further supporting our airline client partners in their long-term aircraft financing requirements.”

“We are pleased to have Centerbridge as a partner in Intrepid. We look forward to working with both our management team and Centerbridge to take advantage of opportunities in the widebody aircraft leasing market,” said Craig Huff, Co-Founder and Co-CEO of Reservoir Capital Group.

“We are pleased to be able to provide a capital solution for Intrepid as they seek to execute and expand their unique business plan in the aviation finance industry focused on widebody leasing. We look forward to supporting Frank and his management team and working with our partner, Reservoir Capital Group,” said Lance West, Senior Managing Director and CEO of Centerbridge Partners Europe.