Thora Capital has named Marc Schechter as managing director. Prior to joining Thora, Schechter was head of risk and credit at an unnamed aircraft leasing organization.
CHICAGO, Nov. 12, 2020 /PRNewswire/ — Thora Capital (“Thora”), a Chicago-based alternative asset manager dedicated to aviation finance, hired Marc Schechter as Managing Director. Mr. Schechter brings over a decade of experience in the helicopter industry to Thora.
“Our team at Thora is thrilled to welcome such an impressive talent to the organization,” said Adam Gerchen, Chairman of Thora. “Marc’s wealth of experience will further enhance both our origination and underwriting capabilities.”
In his role prior to joining Thora, Mr. Schechter was Head of Risk and Credit at one of the world’s largest aircraft leasing organizations. While there, he managed over $1 billion of aircraft leased across thirty countries. He also integrated two different underwriting and credit management platforms after his former employer completed an acquisition. Mr. Schechter holds a B.A. from Northwestern University and an M.B.A. from UCLA’s Anderson School of Management.
Separately, Thora has advised an investor group on the successful consummation of a helicopter acquisition and leaseback involving three Airbus EC135s in Emergency Medical Services (“EMS”) configuration. The aircraft are leased and operated by Apollo MedFlight, headquartered in Texas.
“We are pleased to be able to advise this particular investor group on its first fully unilateral helicopter acquisition, while also bolstering our growing portfolio of managed assets,” said Matthew Rothschild, CEO of Thora.
The helicopters will be used in Nebraska for both emergency and non-emergency medical transport.
“We are delighted to continue to support our investors in this way and also to be supporting the important work that Apollo MedFlight does across the USA,” said Russell Christopher, Managing Director of Thora Capital. “These are popular and versatile aircraft and will be used to save lives and help Apollo, an existing lessee of Thora’s capital partners, to grow their footprint and serve its mission.”
“The deal required Thora to provide its full underwriting expertise to assist the investor group in its investment decision-making. Thora’s established underwriting practices and procedures facilitated an accelerated closing, which took less than four weeks from executing the Letter of Intent to funding and delivery,” said Russell Christopher, who led the transaction.
Vedder Price, Washington DC, was legal counsel to the transaction. Uniflight Global, based in Grand Prairie, Texas, is technical servicer and will provide collateral monitoring to the asset manager.
About Thora Capital, LLC:
Thora Capital, LLC is an alternative asset manager dedicated to aviation finance. Its private equity vehicles focus on helicopter assets, with opportunistic capital deployments into fixed-wing aircraft and related financial instruments. Thora combines a passion for research, data analysis, and portfolio management seeking to maximize risk-adjusted returns for its investors.