Former Beechcraft executive Shawn Vick has been named chief executive of Global Jet Capital, a business aircraft financing company.
Vick was executive vice president at Hawker Beechcraft and Beechcraft for five years, leaving the planemaker after the completion of its sale to Textron in 2015.
Global Jet Capital was established and is capitalized by three private equity investment firms: GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners; the Carlyle Group; and AE Industrial Partners.
Vick is a partner of AE Industrial as is Bill Boisture, former Beechcraft CEO and chairman of Global Jet.
The company earlier this year completed an acquisition of GE’s business jet portfolio comprising 300 aircraft. Global Jet has $2.5 billion under management and another $1 billion for additional aircraft financing.
Vick said in an interview at the National Business Aviation Association Convention in Orlando that he would like to see the company grow to at least $5 billion in assets under management in the next few years.
The 65-employee firm will pursue financing deals for a variety of business aircraft, including small to midsize jets and turboprops manufactured in Wichita, Vick said.