Blackstone Inc. (NYSE: BX) and Dubai Aerospace Enterprise Ltd. announced an agreement to launch a global investment program targeting approximately $1.6 billion in annual deployment for aircraft leasing to commercial airlines.

The program, branded "Equator," will build a portfolio of commercial aircraft on lease to airlines worldwide. DAE will source assets from third parties, while its Aircraft Investor Services group will manage the assets owned by Equator.

"Blackstone's scaled and flexible capital provides a strong foundation to grow our third-party fleet management franchise," said Firoz Tarapore, Chief Executive Officer of DAE.

Blackstone Credit & Insurance expects to provide capital across the program's spectrum, with the investor group including capital from funds managed by ITE Management, L.P., a strategic partner of BXCI.

"This program underscores BXCI's focus on deploying flexible capital into high-quality investments backed by hard assets," said Aneek Mamik, Senior Managing Director and Head of Financial Services for Asset Based Finance at BXCI.

DAE operates approximately 700 aircraft, including more than 100 aircraft valued at over $4 billion under management as of December 31, 2025. The company serves as servicer in seventeen servicing and management agreements for institutional and financial investors.

BXCI's Infrastructure and Asset Based Credit Group manages over $100 billion with more than 90 investment professionals as of December 31, 2025. The platform focuses on providing investment grade credit, non-investment grade credit, and structured investments across infrastructure, commercial finance, fund finance, consumer finance, and real estate lending.