Dubai Aerospace Enterprise (DAE) and Neuberger Specialty Finance have agreed to launch Mustang Aerospace, a new co-investment vehicle aimed at building a major global aircraft leasing platform.
The partnership, announced Monday, targets around $6 billion in aircraft asset investments over the medium term.
Mustang will allow both DAE and Neuberger Specialty Finance managed funds to jointly acquire aircraft and meet fleet demand from airlines worldwide. The vehicle is designed to deploy capital gradually over the long term, with the goal of growing into a leasing platform of significant scale.
The tie-up brings together DAE's four decades of experience in aircraft leasing with Neuberger Specialty Finance's focus on asset-based investments that emphasize downside protection and steady cash flows.
Headquartered in Dubai, DAE manages a fleet of roughly 700 aircraft valued at $25 billion as of March 2026, serving more than 200 airline customers across over 80 countries. Its Aircraft Investor Services division currently oversees seventeen servicing and management agreements for institutional investors.
Neuberger Specialty Finance, the asset-based finance arm of Neuberger, manages more than $5 billion across over 50 portfolio companies since its 2018 launch and has deployed over $16 billion through global origination partners.
DAE Chief Executive Officer Firoz Tarapore said the collaboration would let the company expand its offering at greater scale, while Neuberger Specialty Finance Managing Director Sean Hinze described the venture as a chance to build a durable, long-term leasing franchise with DAE's aircraft management expertise and Neuberger's capital flexibility.
Separately, Mustang has secured committed warehouse financing from a group of banks including Goldman Sachs, Mizuho, BNP Paribas, MUFG, Société Générale and Truist to support its growth.
News Source: Emirates News Agency
