Apollo Aviation Group said April 25 that its fourth flagship aviation fund closed on $950 million. The target for SASOF IV was $850 million. Apollo Aviation invests in the mid-life commercial aviation sector. Kirkland & Ellis LLP advised Apollo with the formation of SASOF IV.
MIAMI & DUBLIN & SINGAPORE–(BUSINESS WIRE)–Apollo Aviation Group (“Apollo Aviation”), a multi-strategy aviation investment manager, announced today that it raised $950 million of capital commitments for SASOF IV, its fourth flagship aviation fund. The fund was oversubscribed, exceeding the target of $850 million. SASOF IV, an institutionally-focused private equity fund, follows on from SASOF II and SASOF III where Apollo Aviation raised $593 million and $833 million, in 2013 and 2015, respectively. SASOF IV’s investors include a broad group of sophisticated public pensions, corporate pensions, foundations, endowments, insurance companies, and others.
William Hoffman, Apollo Aviation’s Chairman, commented, “We were pleased to see the strong demand for our latest vintage fund, from such a sophisticated group of investors. Raising SASOF IV will allow us to continue building on our successful track record of acquiring and monetizing mid-life commercial aircraft.”
SASOF IV has already committed to acquire 37 commercial aircraft including four A319s, nine A320s, one A321, four A330s, and 19 B737. These aircraft are on lease to a diversified group of airlines throughout the world.
Robert Korn, Apollo Aviation’s President, commented, “As we continue to grow our fleet, Apollo Aviation has established itself as one of the principal lessors specializing in the mid- to end- of life market for commercial aircraft. Leveraging our depth of knowledge with proprietary technology, our team continues to find innovative ways to actively manage assets and generate returns for investors.
Kirkland & Ellis LLP advised Apollo Aviation in connection with the formation of SASOF IV.
About Apollo Aviation Group
Apollo Aviation Group is a multi-strategy aviation investment manager that seeks to capitalize on its extensive technical knowledge, in-depth industry expertise and longstanding presence in the mid-life commercial aviation sector. In addition to SASOF IV, Apollo Aviation’s private equity managers manage two private equity funds (i.e., SASOF II and SASOF III) and several private accounts. These funds provide the equity capital for Apollo Aviation’s dynamic and opportunistic approach to aircraft investing including acquiring, refurbishing, marketing and leasing commercial jet aircraft, engines and related assets, disassembly and resale of aircraft and components, and the management of flight equipment assets for leading investment funds, financial institutions and high net worth individuals. Apollo Aviation has grown to nearly $5.0 billion1 of aviation assets under management representing 200 aircraft on lease to 92 lessees in 52 countries. Founded in 2002, the firm has over 70 employees, with three offices in the U.S., Ireland and Singapore.
1 As of March 31 2018. Includes invested capital, indebtedness, available capital and capital invested in, including debt attributable to, assets serviced.