Sciens Capital Management has held a final close for the Sciens Aviation Special Opportunities Fund, having raised a total of USD213m, primarily from institutional investors.
The fund is managed by an affiliate of Apollo Aviation Group, a commercial aircraft investment and asset manager jointly owned by its founders William Hoffman and Robert Korn, and Sciens International Investments.
“We believe it is a compelling time to invest in this strategy and are pleased to have exceeded our initial target raise,” says John Rigas, Sciens’ chief executive.
The fund focuses on tear down arbitrage opportunities currently available in the secondary market at cyclically low prices for commercial airliners and components that have a wide geographic and operator distribution. To date, the fund has acquired 11 aircraft for disassembly and resale.
“We are very grateful to our investors, our colleagues at Sciens Capital and our distribution partners. We are excited about the opportunities and look forward to implementing our strategy,” says Hoffman.
