NEW YORK, April 1, 2025 -- ITE Management L.P. ("ITE"), a leading alternative investment firm specializing in transportation infrastructure, has entered into an asset purchase agreement with Thora Capital, LLC ("Thora Capital"), whereby ITE acquired substantially all of the assets of Thora Capital, one of the largest private investment management firms focused on helicopter leasing. The asset acquisition expands ITE's portfolio into a differentiated, stable cash-flow asset class, reinforcing its leadership in transportation-based, asset-backed investments.
Thora Capital has built a robust portfolio of assets, secured by long-term contracts serving a diverse range of providers including hospitals, municipalities, and government agencies. By integrating Thora's data-driven investment expertise, ITE elevates its ability to generate durable, risk-adjusted returns while unlocking new, diversified opportunities in specialized transportation investments.
"We are excited to welcome the Thora Capital team to ITE," said Jason Koenig, Co-Founder and Managing Partner at ITE Management. "Both firms share a culture of disciplined investing and operational excellence. As demand for innovative capital solutions in the helicopter industry grows, this acquisition strengthens our position in a compelling market with strong fundamentals."
For Thora Capital, the acquisition marks a major strategic milestone. "When Adam Gerchen and I launched Thora in 2018, we set out to build the premier asset manager dedicated to helicopter assets. Joining ITE allows us to scale our expertise within a broader transportation investment platform," said Matt Rothschild, Co-Founder and CEO of Thora Capital. "Together, we can drive new opportunities, enhance operational efficiencies, and deliver greater value to our investors."
Advisors
Sidley Austin LLP is acting as legal advisor to ITE. Katten Muchin Rosenman LLP is acting as legal advisor to Thora Capital.
About ITE Management L.P.
ITE Management L.P. ("ITE") is a privately held, SEC-registered alternative investment firm focused on transportation infrastructure. The firm seeks to generate stable, risk-adjusted returns for investors through a highly diversified portfolio of critical, income-generating transportation assets. ITE's investment process is built on deep operational expertise, access to extensive data, and a focus on portfolio construction. Founded in 2012, ITE is headquartered in New York and manages over $10 billion in hard asset value.
About Thora Capital
Thora Capital, LLC is an alternative asset manager dedicated to aviation finance. Thora Capital combines a passion for research, data analysis, and portfolio management seeking to maximize risk-adjusted returns for our investors.
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