New DAE joint venture targets $6bn in aircraft assets

Mustang Aerospace, a new Dubai-based aircraft leasing co-investment company, is targeting investments of $6 billion in aircraft assets over the medium term.

Dubai Aerospace Enterprise (DAE), the Middle East’s largest aviation services company, and the US-based Neuberger Specialty Finance-managed funds will acquire a diverse fleet of aircraft and support the fleet needs of airlines worldwide, the UAE state-run Wam reported.

The long-term plan includes building Mustang into an entity of “significant size and heft,” the report said.

Firoz Tarapore, CEO of DAE, said that collaborating with Neuberger will allow the company to expand its offerings at a larger scale and support its ambition to continue growing its aircraft investor services offering.

The company has 17 servicing and management agreements with institutional and financial investors.

Mustang signed agreements with Goldman Sachs, Mizuho, BNP Paribas, MUFG, Société Générale and Truist on Monday to provide committed warehouse financing.

Details of the agreement were not disclosed.

Headquartered in Dubai, DAE is an aircraft asset manager serving over 200 airline customers in more than 80 countries. Its 700-aircraft fleet, including more than 100 aircraft under management, was valued at $25 billion as of March 31, 2026.

Neuberger Specialty Finance manages more than $5 billion across more than 50 portfolio companies and is the asset-based finance arm of Neuberger, which manages $567 billion across various asset classes.

Further reading:

• DAE and Blackstone set up new aircraft leasing venture
• Dubai Aerospace gets liquidity boost to drive growth
• Dubai Aerospace buys Macquarie AirFinance for $7bn