Apollo Aviation Group completes $595 million fund raise

Victoria
By Victoria February 6, 2013 14:57

Apollo Aviation Group completes $595 million fund raise

Apollo Aviation Group (Apollo Aviation) and Sciens Capital Management have jointly announced today that Apollo Aviation raised approximately $595 million from a broad array of investors for its second aviation fund, Sciens Aviation Special Opportunities Investment Fund II (SASOF II). SASOF II is managed by Apollo Aviation, a full service commercial aircraft asset manager jointly owned by its founders and principals, William Hoffman and Robert Korn, and by an affiliate of Sciens Capital Management LLC. SASOF II is a follow-on fund to the $213 million Sciens Aviation Special Opportunities Investment Fund (SASOF), which was raised in 2010.

“SASOF II will seek to acquire mid-life commercial aircraft for lease and/or immediate disassembly and resale of the systems, components and parts” said Mr. Hoffman, Apollo Aviation’s Chairman. As of today, SASOF II has acquired 12 commercial aircraft and three engines including Boeing 737 NG, Airbus A320 CEO and A340 aircraft models. Nine of these aircraft are on lease and Apollo Aviation currently plans for the remainder to be either sold or disassembled with the parts then being sold.

Sciens Chief Executive Officer John Rigas said “We are delighted with the accomplishments and growth of Apollo Aviation. They have now become the global leader in managing mid-life and end of life commercial aircraft and we look forward to our continuing cooperation in the future.”

Victoria
By Victoria February 6, 2013 14:57
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