Cross Ocean Partners, a global asset management firm, announced the successful final closing of Cross Ocean Aviation Fund I on August 20, 2018, with total aggregate committed capital of c. $438 million.
The Aviation Fund attracted a diverse investor base which includes private pension plans, insurance companies, endowments, charitable foundations and family offices, amongst others. The Aviation Fund focuses on investments in late life commercial aircraft and engines, globally with an emphasis on North America and Europe. As of September 30, 2018, the Aviation Fund has drawn c. 22% of its committed capital, and it has funded a series of acquisitions of commercial aircraft and engines.
“We are delighted with the success of the fundraise for our first aviation fund,” said Graham Goldsmith, Chief Executive Officer and co-Chief Investment Officer of Cross Ocean Partners. “The firm is very pleased and grateful to have the support of existing Cross Ocean limited partners and develop relationships with new ones as it continues to broaden its investor base. Finally, the team is excited is about the opportunity set in the late life aviation market.”