Carofin and Blu Miles announce funding of ‘single purpose vehicle’ to acquire A330 for USM

Carofin, a Carolina Financial Group company, and Blu Miles Aviation Services announced successful funding of a single-purpose vehicle, Teardown Funding 2, LLC (TF2), created to acquire an airbus A330-200 aircraft for teardown and serviceable parts harvesting and subsequent sales. Teardown and parts consignment sales will be administered by Owl Aerospace. Carofin raised $1,950,000 through a preferred equity structure that is intended to pay distributions to investors in concert with a 39-month consignment program that will be administered by Owl Aerospace. “This fundraising assignment was wrapped up in a few weeks,” said Garrick Ruiz, vice president, sales and syndication, Carofin. “We’re