Apollo Aviation Group raises US$833m for SASOF III

Apollo Aviation Group (“Apollo Aviation”), a multi-strategy aviation investment manager, announced today that it raised US$833m for SASOF III, its third aviation fund. The amount raised is well in excess of SASOF III’s US$750m target. SASOF III, an institutionally-focused commingled private equity fund, follows on from SASOF and SASOF II where Apollo Aviation raised US$213m and US$593m, respectively in 2010 and 2013. SASOF III’s investors include a broad group of sophisticated governmental plans, insurance companies, fund of funds, endowments and others. William Hoffman, Apollo Aviation’s Chairman commented, “As our largest fund yet, it is a testament to the success of our strategy and confidence of our institutional investors. As with SASOF II, SASOF III will seek to acquire mid-life commercial aircraft and engines for lease and / or immediate disassembly and resale of the systems, components and parts.” SASOF III has already acquired 18 commercial aircraft including three A319-100s, two A320-200s, three A321-200s, one A330-200, two A330-300s and seven B737-800s. Most of these aircraft are on lease to a diversified group of airlines throughout the world with the remainder planned for sale or for disassembly and subsequent sale.