Apollo Aviation raises $595m in equity for SASOF II

Source: Flightglobal.com
This story is sourced from Flightglobal.com

Apollo Aviation Group (Apollo Aviation) has 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 will seek to acquire mid-life commercial aircraft for lease and/or immediate disassembly and resale of the systems, components and parts," says Apollo Aviation's chairman William Hoffman.

SASOF II is a follow-on fund to the $213 million Sciens Aviation Special Opportunities Investment Fund (SASOF), which was raised in 2010.

The fund has acquired 12 commercial aircraft and three engines including Boeing 737 Next Generation, Airbus A320 and A340 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.

The fund 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.