FTAI Fortress Transportation and Infrastructure Investors LLC

CUSIP No. G3730V105

1       NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
        (entities only)

                THE WASHINGTON STATE INVESTMENT BOARD

2       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP      (a)  [ ]
                                        (see instructions)    (b)  [ ]

3       SEC USE ONLY

4       CITIZENSHIP OR PLACE OF ORGANIZATION

                UNITED STATES

        NUMBER OF SHARES        5       SOLE VOTING POWER

        BENEFICIALLY                        11,785,779

        OWNED BY EACH           6       SHARED VOTING POWER

        REPORTING                               0

        PERSON WITH             7       SOLE DISPOSITIVE POWER

                                            11,785,779

                                8       SHARED DISPOSITIVE POWER

                                                0

9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                11,785,779

10      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)               [ ]
        EXCLUDES CERTAIN SHARES (See Instructions)

11      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                11.8%

12      TYPE OF REPORTING PERSON (See Instructions)

                EP



                           SCHEDULE 13G

This statement on Schedule 13G (this "Statement") is being filed by
The Washington State Investment Board ("WSIB") and relates to the Common Shares
(the "Common Stock") of FTAI Aviation Ltd. (the "Issuer")(f/k/a Fortress
Transportation & Infrastructure Investors LLC and Fortress Transportation &
Infrastructure Investors Ltd.). WSIB invests government pension funds and has
discretionary authority with respect to the investments of, and acts as
agent for, its beneficiary, the state of Washington. The Common Stock
reported in this Statement as beneficially owned by WSIB is held in
WSIB's accounts. The filing of this Statement, however, shall not be
construed as an admission that WSIB (or any of its principals) is, for
purposes of Section 13 of the Exchange Act, the beneficial owner of
such securities.

ITEM 1(A).      NAME OF ISSUER:

                        FTAI AVIATION LTD.

ITEM 1(B).      ADDRESS OF ISSUER'S PRINICPAL OFFICES:

                        1345 Avenue of the Americas
                        45th Floor
                        New York, NY 10105
                        United States

ITEM 2(A).      NAME OF PERSON FILING:

                        Washington State Investment Board

ITEM 2(B).      ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

                        2100 Evergreen Park Dr SW
                        PO Box 40916
                        Olympia, WA 98504
                        United States

ITEM 2(C).      CITIZENSHIP:

                        United States

ITEM 2(D).      TITLE OF CLASS OF SECURITIES:

                        Common Shares

ITEM 2(E).      CUSIP NUMBER:

                        G3730V105

ITEM 3.         THIS SATEMENT IS BEING FILED PURSUANT TO RULE 13(d)-1(b)
                BECAUSE THE REPORTING PERSON FILING IS AS FOLLOWS:

                (a)     [ ]  Broker or dealer registered under section 15
                             of the Act (15 U.S.C. 78o).

                (b)     [ ]  Bank as defined in section 3(a)(6) of the Act
                             (15 U.S.C. 78c).

                (c)     [ ]  Insurance company as defined in section 3(a)(19)
                             of the Act (15 U.S.C. 78c).

                (d)     [ ]  Investment company registered under section 8 of
                             the Investment Company Act of 1940 (15 U.S.C. 80a-8).

                (e)     [ ]  An investment adviser in accordance with
                             ss.240.13d-1(b)(1)(ii)(E).

                (f)     [X]  An employee benefit plan or endowment fund in
                             accordance with ss.240.13d-1(b)(1)(ii)(F).

                (g)     [ ]  A parent holding company or control person in
                             accordance with ss.240.13d-1(b)(1)(ii)(G).

                (h)     [ ]  A savings associations as defined in Section 3(b)
                             of the Federal Deposit Insurance Act
                             (12 U.S.C. 1813).

                (i)     [ ]  A church plan that is excluded from the definition
                             of an investment company under section 3(c)(14) of
                             the Investment Company Act of 1940 (15 U.S.C. 80a-3).

                (j)     [ ]  Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).

                If this statement is filed pursuant to ss.240.13d-1(c), check this
box [ ].

ITEM 4.         OWNERSHIP:
                        PROVIDE THE FOLLOWING INFORMATION REGARDING THE AGGREGATE
                        NUMBER AND PERCENTAGE OF THE CLASS OF SECURITIES OF THE
                        ISSUER IDENTIFIED IN ITEM 1.

                (a)     Amount beneficially owned:  11,785,779

                (b)     Percent of class:  11.8%

                (c)     Number of shares as to which the person has:

                        (i)    Sole power to vote or to direct the vote:

                               11,785,779

                        (ii)   Shared power to vote or to direct the vote:

                               0

                        (iii)  Sole power to dispose or to direct
                               the disposition of:

                               11,785,779

                        (iv)   Shared power to dispose or to direct
                               the disposition of:

                                  0


ITEM 5.         OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

                Not applicable.


ITEM 6.         OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

                Not applicable.


ITEM 7.         IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
                ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
                COMPANY

                Not applicable.

ITEM 8.         IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

                Not applicable.

ITEM 9.         NOTICE OF DISSOLUTION OF GROUP

                Not applicable.

ITEM 10.        CERTIFICATION

                By signing below I certify that, to the best of my knowledge
                and belief, the securities referred to above were acquired
                and are held in the ordinary course of business and were not
                acquired and are not held for the purpose of or with the effect
                of changing or influencing the control of the issuer of the
                securities and were not acquired and are not held in connection
                with or as a participant in any transaction having that purpose
                or effect, other than activities solely in connection with a
                nomination under 240.14a-11.

                After reasonable inquiry and to the best of my knowledge and
                belief, I certify that the information set forth in this
                statement is true, complete and correct.

                                        Dated January 5, 2023



                                        The Washington State Investment Board



                                        BY: /s/ Greg Henderson
                                          ---------------------------------

                                        Name:  Greg Henderson
                                        Title: Investment Compliance Manager