Stonebriar Commercial Finance LLC (“Stonebriar”) today announced that Michael T. Amalfitano, Sr., a leader in the corporate aircraft finance industry, has joined the newly formed commercial finance company as Executive Vice President, Senior Managing Director. Michael, who will report to Dave B. Fate, President and CEO of Stonebriar, built and led the global aircraft business for Bank of America Merrill Lynch for over 22 years and has over 33 years of experience in leadership roles within the leasing and financial services industry. Stonebriar plans to add corporate aircraft to its already robust list of industries served, including rail, marine, manufacturing, energy and corporate real property among others. Stonebriar’s business aviation finance platform will serve a broad range of middle market to large businesses, as well as high net worth individuals in the U.S. and select foreign jurisdictions.
Michael stated “The strategy is to leverage the unique capabilities of Stonebriar, a well-funded and nimble organization, by providing financial terms and structures not generally offered by regulated institutions, allowing for greater flexibility in advance rates, terms, amortization, aircraft age and usage, while generating premium economic returns. We intend to focus on the now underserved corporate aircraft finance market vacated by many institutions post-2008 crisis including finance companies, such as GE Capital, who recently announced its intent to exit the space. Servicing this market will help promote the growth of business aviation for Stonebriar’s clients while driving asset and income growth for the company.”
Fate added “Michael brings remarkable experience and tremendous credibility to this role, adding considerable strength and market presence given his solid reputation within the aviation industry, to broaden our financial services capabilities and product lines.”
“I am very excited for Michael to be a part of the Stonebriar management team,” said Paul T. Bossidy, Chairman of Stonebriar. “With his expertise, I am confident that Stonebriar will quickly become a leading source of business aviation finance solutions.”
About Stonebriar Commercial Finance: Stonebriar is a privately held commercial finance company established in 2015 and based in Plano, TX. With financial backing from Security Benefit Corporation, Stonebriar is building a world class, multi-billion dollar platform of commercial loans and leases. Since its inception in April, Stonebriar has committed to in excess of $160 million in financings with over $110 million funded to date. We specialize in transactions for businesses in a wide variety of industries throughout the entire credit spectrum located in the United States, Canada and select other foreign jurisdictions.
About Security Benefit Corporation: Security Benefit has more than $28 billion in total assets under management and partners with more than 30,000 licensed and appointed financial planners and representatives through a network of 700 broker/dealers and independent marketing organizations. In addition, Security Benefit Life Insurance Company (“SBL” and its New York affiliate, First Security Benefit Life Insurance and Annuity Company of New York (”FSBL”), provide fixed and variable annuities to approximately 230,000 policyholders. We are known nationwide and serve the financial needs of customers in all 50 states. To learn more about Security Benefit go to www.securitybenefit.com.