Global law firm Clifford Chance advised Avolon, a leading global aviation finance company, on its agreement to acquire Castlelake Aviation Limited, an entity managed by global alternative investment manager Castlelake L.P. The transaction is expected to complete in the first quarter of 2025.

The business of Castlelake Aviation Limited had total assets of $5 billion as at 31 March 2024 and comprises a global portfolio of 118 aircraft with a high proportion of new-technology aircraft.

The cross-practice team was led by Corporate partner Nicholas Rees and Asset Finance partner Oliver Hipperson. They were supported by director Chris Hardisty, senior associates Antonio Folgore, Tim Hunter-Jones, Philippa Lawson and Chelsea Bruk-Jackson and associates Alice Butcher, Sarah Boyd and Cathal Lynam. Partner Edward Page and senior associate Paul Harrington advised on the tax aspects of the transactions. Employment advice was provided by partner Chinwe Odimba-Chapman and senior associate Kristen Hammond and antitrust advice by partner Richard Blewett, counsel Chandralekha Ghosh and associate Ilya Stekunov. Partner Zarrar Sehgal and counsel John McManmon provided New York law support.

Avolon is a leading global aviation finance company with an owned, managed, and committed fleet of 1,029 aircraft, as of 30 June 2024.