Blackstone Provides $1 Billion Financing to Jet Services Firm

Blackstone Inc.’s credit and insurance unit provided more than $1 billion in new financing to help recapitalize aircraft maintenance firm Jet Support Services Inc., according to a person with knowledge of the matter.

The deal consisted primarily of private debt plus a small equity component and brings Blackstone’s total investment in JSSI through a series of financings to over $1.8 billion, said the person, who asked not to be identified discussing confidential information.

A representative for Blackstone declined to comment.

Backed by private equity firms GTCR and Genstar Capital, JSSI provides hourly cost maintenance programs for business ...