Corrum Capital Management's New Partnership with AvAir
Corrum Capital Management LLC, an independent private investment firm, recently announced the successful closure of a continuation fund dedicated to AvAir LLC. This strategic move underscores their commitment to a cashflow-oriented investment approach while providing necessary liquidity to existing partners.
About the Continuation Fund
This newly established single-asset continuation fund is designed to bolster AvAir's operational capabilities amidst its impressive growth trajectory. As global demand surges, the funding not only supports AvAir’s expansion strategies but also strengthens the investment framework for both Corrum and its limited partners.
Enhancing Liquidity and Growth
The continuation fund is a pivotal development for Corrum, facilitating follow-on capital that supports ongoing business activities and increases AvAir’s competitive edge within the aerospace and defense sector. This liquidity enables both firms to forge ahead with confidence, driving further innovation in their respective markets.
AvAir's Industry Leadership
Established in 2000, AvAir has emerged as a prominent player in the aviation aftermarket sector, providing tailored inventory solutions to maintainers and original equipment manufacturers. The company's recognition as Parts Supplier of the Year for multiple consecutive years illustrates its capacity to deliver exceptional quality and service.
Strategic Growth and Market Position
Corrum's investment in AvAir began in 2019 and has since catalyzed substantial international growth and product diversification. The partnership has proven invaluable as AvAir navigates a rapidly evolving market, showcasing its leadership through various industry accolades.
A Message from Corrum Capital Management
Jason Cipriani, Co-Managing Partner at Corrum, expressed his enthusiasm for the partnership, highlighting AvAir's adeptness in managing customer relationships while overcoming market challenges. This ongoing collaboration epitomizes the strategic foresight necessary for sustainable growth in the aerospace sector.
About the Companies Involved
Corrum Capital Management employs a distinct investment philosophy emphasizing downside protection and low market correlation. Their portfolio mainly spans the music, entertainment, sports, and aviation fields, leveraging a robust network to streamline capital deployment effectively.
AvAir, highlighting its reputation within the industry, focuses on inventory solutions that satisfy a diverse clientele in the aviation sector. The firm is dedicated to sustainability, which has led to its recognition and certifications for environmentally responsible practices.
New 2ND Capital, a key player in the transaction, specializes in middle-market investments and GP-led secondary transactions. With considerable assets under management, they are committed to fostering growth within companies through strategic funding approaches like continuation funds.
Frequently Asked Questions
What is a continuation fund?
A continuation fund is a fund used to provide existing investors with liquidity while allowing the management of the fund to continue managing the underlying assets, often after the original fund has reached the end of its investment period.
Who is Corrum Capital Management?
Corrum Capital Management is an independent private investment firm that focuses on cashflow-oriented strategies emphasizing downside protection and active investment management.
What is AvAir’s role in the aerospace industry?
AvAir is a leading provider of aftermarket solutions in the aviation sector, offering customized inventory solutions to various clients, including airlines and OEMs.
How has AvAir's performance been recognized?
AvAir has been named the Parts Supplier of the Year four times, reflecting its quality service and leadership in the aviation aftermarket industry.
What is the goal of this partnership?
The partnership aims to enhance operational capabilities, support AvAir’s growth strategies, and ensure a continuous flow of capital that enables innovative offerings to clients.
