Apollo Aviation Group (“Apollo Aviation”), a multi-strategy aviation investment manager, announced today that it raised $950 million of capital commitments for SASOF IV, its fourth flagship aviation fund. The fund was oversubscribed, exceeding the target of $850 million. SASOF IV, an institutionally-focused private equity fund, follows on from SASOF II and SASOF III where Apollo Aviation raised $593 million and $833 million, in 2013 and 2015, respectively. SASOF IV’s investors include a broad group of sophisticated public pensions, corporate pensions, foundations, endowments, insurance companies, and others.
William Hoffman, Apollo Aviation’s Chairman, commented, “We were pleased to see the strong demand for our latest vintage fund, from such a sophisticated group of investors. Raising SASOF IV will allow us to continue building on our successful track record of acquiring and monetizing mid-life commercial aircraft.”
SASOF IV has already committed to acquire 37 commercial aircraft including four A319s, nine A320s, one A321, four A330s, and 19 B737. These aircraft are on lease to a diversified group of airlines throughout the world.
Robert Korn, Apollo Aviation’s President, commented, “As we continue to grow our fleet, Apollo Aviation has established itself as one of the principal lessors specializing in the mid- to end- of life market for commercial aircraft. Leveraging our depth of knowledge with proprietary technology, our team continues to find innovative ways to actively manage assets and generate returns for investors.
Kirkland & Ellis LLP advised Apollo Aviation in connection with the formation of SASOF IV.