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Thora Capital, LLC, a Chicago-based alternative asset manager dedicated to aviation finance, has announced the initial closing for its first fund, Thora Capital Fund I, LP. Thora’s limited partners include family offices, high net worth individuals, and the leading independent provider of maintenance support and financial services to the aviation industry.
“We are extremely grateful for the trust placed in us by our investment partners,” said Matthew Rothschild, chief executive officer of Thora. “The helicopter industry is in a period of elevated demand for creative capital solutions, and Thora is well-positioned to support the sector’s financing needs.”
Thora separately announced the closing of its first transaction, exceeding $10 million, with the acquisition and subsequent leasing of four helicopters to Apollo MedFlight. The Airbus H145 and H135 helicopters will be operated by Apollo for both emergency and non-emergency medical transport in North Carolina.
“We are delighted to be supporting the important work that Apollo does,” said Russell Christopher, managing director of Thora Capital. “This deal demonstrates Thora’s ability to manage all aspects of an aircraft transaction, including acquiring aircraft from multiple sellers, arranging senior debt, and establishing new lease contracts for a first-time lessee.”
Vedder Price, Washington DC, was legal counsel to Thora. Uniflight Global, based in Grand Prairie, Texas, is technical servicer and will provide collateral monitoring to the asset manager. Jet Support Services, Inc., headquartered in Chicago, Illinois, will provide the hourly cost maintenance program for Apollo.