Crestone Air Partners, an Air T Business, Completes Acquisition of Arena Aviation Capital, Surpassing $3.6 Billion in Assets Under Management

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[{"type":"text","content":"Milestone reflects Air T's permanent-capital, buy-to-build model and the momentum of its networked aviation portfolio","length":121,"tagName":"p"},{"type":"text","content":"MINNEAPOLIS, MN / ACCESS Newswire / June 16, 2026 / Air T, Inc. (NASDAQ:AIRT) today announced that its majority owned business Crestone Air Partners, a global aviation asset management platform, has completed its acquisition of Arena Aviation Capital - a well-established aviation asset manager with a diversified portfolio and deep airline relationships. The transaction, first disclosed on March 8, 2026, has now closed following the satisfaction of all customary closing conditions and required approvals.","length":508,"tagName":"p"},{"type":"text","content":"The acquisition materially expands Crestone. Assets under management (AUM) as of December 31, 2025, were $800 million; as of March 31, 2026, AUM had grown to $1.2 billion; and post-transaction, the combined platform now comprises $3.6 billion of AUM. Crestone receives standard aviation industry management fees, including origination fees, administrative fees, disposition fees, and an incentive fee above a certain hurdle rate (which varies by investment transaction). Our aviation asset management platforms seek to generate 10%+ returns after fees.","length":552,"tagName":"p"},{"type":"text","content":"Immediately prior to the closing, Air T owned 90% of the common interests in Crestone Asset Management, LLC ("CAM"). At this same time, entities controlled by the Mill Road Investors collectively owned the remaining 10% of the common interests in CAM. In connection with the transactions, Air T and Aviation Growth Initiatives, LLC ("AGI"), a management-affiliated entity formed by executives of Crestone Air Partners, Inc., acquired the MRC Parties' 10% common interest position in CAM at a pre-money valuation of $62 million for aggregate cash consideration of $6.2 million. In connection with the reorganization, the parties also amended CAM's limited liability company agreement to reflect the exit of the MRC parties from the common interest holder group.","length":788,"tagName":"p"},{"type":"text","content":"On the closing date, Blue Owl Capital bought in to Crestone Air Partners at an $80 million valuation post-merger for up to 12.5% of Crestone Air Partners, dependent upon Creston...

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