Asset management firm Thora Capital has announced the final closing for its first fund, Thora Capital Fund I, LP.
The fund's limited partners include family offices, high net worth individuals, RIAs, and the leading independent provider of maintenance support and financial services to the aviation industry.
Matthew Rothschild, chief executive officer of Thora, commented: "We sincerely appreciate the trust placed in us by our investment partners.
"With $50 million of capital commitments and co-investment assets under management, Thora is well-positioned to support the financing needs of the industry during this period of elevated demand for creative capital solutions."
Thora has also separately announced the closing of its second transaction with the acquisition of two utility helicopters to be placed on a long- term lease with Uniflight Global Flight Services, based in Grand Prairie, Texas.
The helicopters will be operated by Aviation Services Unlimited in Rome, New York.
Russell Christopher, managing director of Thora Capital, added: "We are delighted to be able to provide this financing to Uniflight Global in support of their growth in the utility space. This deal also provides Thora with further diversification of aircraft and mission type as we continue to expand our portfolio."
The Fund acquired the two helicopters, one from ASU in a sale-leaseback arrangement and the other imported from Canada. Both aircraft will be leased to ASU for seven years.
Vedder Price, Washington DC, was legal counsel to Thora. McAfee and Taft, Oklahoma City, was aviation counsel to the transaction.
YYZ Law, Toronto, Canada, advised on aspects of the Canadian secured transaction. Pepper Hamilton, Berwyn PA, operated as general counsel for Uniflight Global.