Guggenheim Aviation opens in Singapore

The US-based private equity firm has also hired Stephen Barnes, former treasurer for Singapore Airlines, as director of marketing in Asia.

Guggenheim Aviation Partners has opened an office in Singapore and hired Stephen Barnes as director of marketing to expand its Asia Pacific presence.

Barnes, who was formerly the treasurer of Singapore Airlines, will be responsible for seeking regional opportunities for the acquisition, leasing and sale of commercial aircraft and the sourcing of secure debt.

Barnes has also worked for global financial firm Barclays Bank where he held positions in India, Hong Kong, Singapore and the UK.

Guggenheim Aviation Partners is a partnership between Guggenheim Capital and a group of aviation advisors, a number of whom previously worked at aircraft leasing firm Curtis & Company.

The firm’s funds acquire and lease aircraft, seeking out assets that are undervalued by rating agencies and other industry players. A large part of the firm’s strategy involves converting passenger carriers into aircraft cargo, a market that the firm believes is currently underserved, though is gaining popularity with other investors including Oak Hill Capital Partners and Fortress Investment Group.