Apollo Aviation has contracted to purchase five aircraft for $53m in 4Q 2013 on behalf of its second aviation fund, SASOF II. Since SASOF II’s inception, Apollo has agreed to acquire 44 aircraft, eight engines and one airframe with a total gross purchase price of $640m. The SASOF II fund closed in 1Q 2013 with commitments of $595m. By year end, it had called $353m, representing 59 per cent of available funding. Commenting on prospects for 2014, Apollo chairman William Hoffman said the group would “continue to make acquisitions on behalf of SASOF II” and would “branch out into more liquid aviation investments”.