Global asset management firm Cross Ocean Partners has raised $438m (€382.4m) for its first aviation fund.
The manager’s Cross Ocean Aviation Fund, which closed on 20, attracted a diverse investor base which includes private pension plans, insurance companies, endowments, charitable foundations and family offices.
The fund focuses on investments in late life commercial aircraft and engines, globally with an emphasis on North America and Europe.
As of 30 September, the fund had drawn around 22% of its committed capital, and it had funded a series of acquisitions of commercial aircraft and engines, the manager said.
Graham Goldsmith, the CEO and co-CIO of Cross Ocean Partners, said: “We are delighted with the success of the fundraise for our first aviation fund.
“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.”
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