Vx Capital Partners Raises $107M For Debut Aviation-Focused Fund

May 26 2017 | 6:51pm ET

Aviation financing specialist Vx Capital Partners has raised $107 million in capital commitments for its inaugural private equity fund, beating its $100 million target. 

The new fund, named Vx Freighter Investment Fund, was oversubscribed, according to the company. It held a final close in early February and will focus on the acquisition of mid-life narrow-body passenger aircraft for subsequent conversion to cargo configurations. 

While owned by the fund, the planes will be placed on lease to cargo airlines globally, Vx added. The fund currently owns ten aircraft in freighter configuration on lease, and another ten aircraft undergoing or awaiting cargo conversion.

“We are grateful for the strong demand from our investor base and appreciate their support in the successful launch of Vx Freighter Investment Fund,” said Vx’s founding partner, Robert Brown, in the statement.

BNP Paribas served as Vx’s exclusive placement agent on the fund raise, while Kirkland & Ellis LLP provided legal counsel.

Headquartered in San Francisco, Vx Capital Partners was founded in 2002 by Brown and fellow aviation industry veteran William Hudson. Together with its partners, the company has invested approximately $1 billion in more than 100 commercial aircraft since inception. 

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