Apollo Aviation Group fund III raises $833 million

Apollo Aviation Group said Wednesday that its third aviation fund raised $833 million, above its $750 million target. Investors of SASOF III include governmental plans, insurance companies, fund of funds, endowments and others. SASOF III will seek to buy acquire mid-life commercial aircraft and engines for lease and / or immediate disassembly and resale of the systems, components and parts.

PRESS RELEASE

MIAMI, DUBLIN, SINGAPORE, October 7, 2015 – Apollo Aviation Group (“Apollo Aviation”), a multi-strategy aviation investment manager, announced today that it raised $833 million for SASOF III, its third aviation fund. The amount raised is well in excess of SASOF III’s $750 million target. SASOF III, an institutionally-focused commingled private equity fund, follows on from SASOF and SASOF II where Apollo Aviation raised $213 million and $593 million, respectively in 2010 and 2013. SASOF III’s investors include a broad group of sophisticated governmental plans, insurance companies, fund of funds, endowments and others.

William Hoffman, Apollo Aviation’s Chairman commented, “As our largest fund yet, it is a testament to the success of our strategy and confidence of our institutional investors. As with SASOF II, SASOF III will seek to acquire mid-life commercial aircraft and engines for lease and / or immediate disassembly and resale of the systems, components and parts.”

SASOF III has already acquired 18 commercial aircraft including three A319-100s, two A320-200s, three A321-200s, one A330-200, two A330-300s and seven B737-800s. Most of these aircraft are on lease to a diversified group of airlines throughout the world with the remainder planned for sale or for disassembly and subsequent sale.

Robert Korn, Apollo Aviation’s President explained, “With the growth of our fleet, we’re positioned as one of the dominant players globally in the mid- to end-of-life market for commercial aircraft. As air travel continues to increase, we believe this will lead to significant opportunities ahead.”

Kirkland & Ellis LLP advised Apollo Aviation in connection with the formation of SASOF III.

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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 long-standing presence in the mid-life commercial aviation sector. In addition to SASOF III, Apollo Aviation manages two private equity funds (i.e., SASOF and SASOF II) and several private accounts. These funds provide the equity capital for Apollo’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. Founded in 2002, as of SASOF III’s closing, Apollo has grown to nearly $2.3 billion[1] of aviation assets under management representing over 80 aircraft, 110 airframes and 300 aircraft engines. It has offices in the U.S., Ireland and Singapore.

[1] As of June 30 2015