Carlyle to invest in aviation

US private equity firm Carlyle Group intends to invest $600m in a joint venture with RPK Capital Management that will buy commercial aviation assets around the world. Carlyle and Chicago based RPK Capital, which specialises in aviation investments, have set up a new company that will purchase over $1bn of assets. RPK, which will manage the portfolio and also invest $20m, intends to buy bank debt secured against assets such as jets and spare parts and also various aircraft and engines that will then be leased out to airlines.