Itasca MGA Provides Aircraft Finance Insurance Cover to Elevate Capital Partners

HAMILTON, Bermuda, Nov. 21, 2024 / – Itasca MGA Limited ("Itasca"), an aviation-focused managing general agent created by alternative investment manager Castlelake and Pine Walk Capital, a wholly owned subsidiary of The Fidelis Partnership, today announced it provided insurance backing for Elevate Capital Partners, a private investment and asset management firm, for a financing solution in respect of two E195-E2 aircraft.

"Itasca is pleased to provide support to Elevate Capital Partners as it takes delivery of these assets," said Gareth John, CEO of Itasca MGA. "With insurance-backing from Itasca, we believe lessors and airlines are able to access more competitive and creative financing solutions that empower their business plans."

The policy underwritten by Itasca helped enable Elevate as the arranger and servicer to secure efficient financing for the E195-E2 aircraft, which are on lease with Porter, a regional airline based in Canada. Both aircraft were delivered in September 2024. The transaction marks the first Embraer aircraft transaction for Itasca since its founding one year prior, in October 2023.