Vx Capital has raised $107 million for its private equity vehicle Vx Freighter Investment Fund (VXF).

The fund will be used to acquire mid-life narrowbody jets for conversion from passenger to cargo configuration, says Vx Capital.

VXF will own the aircraft, but they will be placed on lease to cargo airlines globally.

The fund currently owns 10 freighters on lease and another 10 undergoing or awaiting cargo conversion, says Vx Capital.

Its placement agent for the transaction was French bank BNP Paribas and its legal counsel was Kirkland & Ellis.

Source: Cirium Dashboard