AIP Capital, an alternative investment manager focused on opportunities in asset-based finance, and Bridgepoint signed a purchase agreement to acquire a portfolio of 11 LEAP-1B engines from CFM International, a 50/50 joint company between GE Aerospace and Safran Aircraft Engines.

The acquisition expands AIP and Bridgepoint's joint venture to build a diversified portfolio of over $1 billion in commercial aircraft engines, spanning in-demand next-generation and current generation aircraft engines. Upon delivery between 2027 and 2029, the new engines will be leased to airlines, MROs and other operators to support their operating needs.

The agreement demonstrates the continued strong relationship between AIP, Bridgepoint and CFM, which first began with AIP and Bridgepoint jointly acquiring an initial set of LEAP-1B engines from CFM in 2024.

"This order reflects another milestone in both our partnership and strategy with CFM," said Mathew Adamo, Managing Partner at AIP. "We are excited to continue expanding upon our successful relationship with CFM and recognize the reliability, fuel efficiency, and performance of the LEAP engine family."

"We are excited to acquire these engines in partnership with AIP and CFM," said Rohit Dhote, Partner and Co-Head of Credit Opportunities at Bridgepoint. "CFM has continued to distinguish itself with these in-demand, state-of-the-art engines."

"We are proud to further expand our relationship with AIP Capital and Bridgepoint," said Gaël Méheust, president and CEO of CFM International. "This agreement bolsters our shared mission to reduce aviation's environmental impact while providing industry-leading reliability and exceptional service and support."