Dubai: Dubai Aerospace Enterprise (DAE) Ltd and Neuberger Specialty Finance have announced the launch of Mustang Aerospace (Mustang), a new co-investment vehicle for aircraft leasing.
According to Emirates News Agency, Mustang will allow DAE and Neuberger Specialty Finance managed funds to acquire a diverse fleet of aircraft, aiming to meet the fleet requirements of airlines globally. The initiative will involve steady capital deployment over a long-term period, with the goal of building Mustang into a significant entity.
DAE, with its extensive experience in aircraft leasing and asset management, aligns with Neuberger Specialty Finance's focus on asset-based investments. This partnership is expected to bring downside protection, durable cash flows, and shorter-duration characteristics to investors. Mustang plans to invest approximately US$6 billion in aircraft assets over the medium term through multiple vehicles.
Headquartered in Dubai, DAE is a seasoned aircraft asset manager, serving over 200 airline customers in more than 80 countries from six office locations globally. As of 31st March 2026, DAE's fleet, which includes over 100 aircraft under management, is valued at US$25 billion. Through its Aircraft Investor Services (AIS) group, DAE acts as a servicer for institutional and financial investors, including those involved in structured aircraft portfolio transactions.
Neuberger Specialty Finance, part of Neuberger's Asset Based Finance arm, manages over $5 billion across more than 50 portfolio companies and various investment vehicles. Since 2018, the group has invested over $16 billion through 80 global origination partners, ranging from commercial banks to fintechs.
Firoz Tarapore, CEO of DAE, expressed enthusiasm about the collaboration with Neuberger, stating that it will enable DAE to expand its offerings and support its growth ambitions in the AIS sector. Sean Hinze, Managing Director at Neuberger Specialty Finance, also highlighted the opportunity to build a durable franchise within Neuberger's Asset Based Finance platform.
In parallel with the launch, Mustang announced an agreement with Goldman Sachs, Mizuho, BNP Paribas, MUFG, Soci©t© G©n©rale, and Truist to provide committed warehouse financing to support the co-investment vehicle's growth.