Aviation asset management and investment firm AIP Capital (AIP) has confirmed the completion of a minority investment and joint venture (JV) agreement with Dreamstone Aviation Partners (Dreamstone), a subsidiary of Dreamstone Partners.

AIP will hold around 30% of the shares in Dreamstone and will be represented on the board of directors.

Financial details of the agreement have not been confirmed.

The JV will “provide for greater cooperation” between the two firms as AIP seeks to expand in South Korea and the broader APAC region.

“We expect the partnership between AIP and Dreamstone to be an effective platform supporting our go-to-market strategy,” said Kenneth Kang, Dreamstone CEO.

“We are confident that innovative ideas combined with decades of industry experience between the two firms will help us successfully execute the strategy today and in the future.

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Dreamstone is a South Korea-based consulting and investment firm that focuses specifically on the aviation sector by providing lease consulting, fundraising and airline IT systems to the APAC region.

“We are delighted to formalise our partnership with Dreamstone and Kenneth, who has been a partner with us for close to a decade. Dreamstone is one of the premier aviation teams in South Korea with deep expertise across the sector,” said Jared Ailstock, AIP managing partner of AIP.

“As investor appetite in South Korea returns post-pandemic, we are confident this partnership will allow us to capitalize on those opportunities.

Gibson Dunn acted as legal advisor to AIP in the US, with Shin & Kim advising in Korea. PwC provided tax advice.