Apollo Takes Majority Stake in Modern Aviation 

Infrastructure funds managed by Apollo will take a majority stake in Modern Aviation through the exit of Tiger Infrastructure Partners’ Fund II investment in the company. 

Terms of the deal, which is expected to close by year-end, were not revealed. 

Modern is a fixed base operator (FBO) platform serving business and general aviation, as well as commercial, cargo and military aircraft at airports across North America.  

Tiger formed the platform in early 2018 in collaboration with Modern’s management team to acquire, upgrade, expand and operate FBOs around the U.S.  

Since then, Modern has acquired 16 locations through nine separate transactions from family and individual owners. Tiger will also invest new capital alongside Apollo to fund future growth of the company. 

“We are thrilled to be partnering with the Apollo team and we appreciate Tiger’s continued support as they have been with us since Modern was just an idea,” said Modern Aviation CEO Mark Carmen. 

Across its platform, Apollo Funds and affiliated entities have deployed more than $12 billion into aviation industry investments. As of September 30, Apollo had approximately $631 billion of assets under management. 

“Exiting Modern now delivers another full realization for our 2017-vintage Fund II, following closely on the heels of our recently announced sale of Zenobē to KKR Infrastructure,” added Tiger CEO Emil W. Henry, Jr. 

Pictured: Modern Aviation hangar at one of its 16 US locations