Wed, 06/02/2013 - 14:27
Apollo Aviation Group has raised approximately USD595m from a broad array of investors for its second aviation fund, Sciens Aviation Special Opportunities Investment Fund II (SASOF II).
SASOF II 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.
SASOF II is a follow-on fund to the USD213m Sciens Aviation Special Opportunities Investment Fund, which was raised in 2010.
“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 William Hoffman, Apollo Aviation’s chairman.
As of today, SASOF II has acquired 12 commercial aircraft and three engines including Boeing 737 NG, Airbus A320 CEO and A340 aircraft 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.
Sciens chief executive officer John Rigas says: “We are delighted with the accomplishments and growth of Apollo Aviation. They have now become the global leader in managing mid-life and end of life commercial aircraft and we look forward to our continuing cooperation in the future.”
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