ERA Partners LLC Announces Oversubscribed Close of $485 Million Continuation Vehicle for American Aviation Holdings
ERA Partners LLC ("ERA" or the "Firm") today announced the final close of a $485 million continuation vehicle to support their aerial wildland firefighting and heavy lift companies within their American Aviation Holdings investment platform. ERA Blade Continuation Fund LP (together with its parallel fund, the "Fund") was substantially oversubscribed, underscoring the infrastructure market's conviction in the quality of American Aviation Holdings' essential assets. The Fund secured commitments from both new and existing institutional infrastructure and real assets investors, as well as specialist secondary investors. StepStone Infrastructure and Real Assets acted as the lead investor in the transaction.
The Fund will provide additional capital to the underlying companies within American Aviation Holdings to support their continued growth strategies, expand their fleet, and increase their presence in both domestic and international markets.
"We have seen wildland fires occurring more frequently with devastating impacts to our country and international partners," said Ryan Barnes, Managing Partner at ERA. "As an essential service that is critical to saving lives and property, we believe this capital positions our aerial firefighting platform to better meet the growing demand and address the shortage of available aircraft worldwide."
Campbell Lutyens served as exclusive financial adviser to ERA. In addition, ERA engaged Latham & Watkins LLP as legal counsel.
About American Aviation Holdings
American Aviation Holdings is an aerial firefighting and heavy lift infrastructure services provider to international, federal, state, and local agencies as well as public and private corporations. The company primarily operates in the high-growth aerial firefighting industry that provides contracted, essential wildfire prevention and mitigation services. Its underlying companies own and operate a fleet of over 45 helicopters across the U.S. and internationally.
About ERA Partners LLC
ERA Partners LLC ("ERA") is a value-add infrastructure investment firm with $1.3 billion in AUM as of August 2025. The firm specializes in helping to build platforms of asset-rich operating businesses that deliver essential services in the North American lower middle market. ERA seeks to partner with established family-owned businesses and experienced operators with a shared vision of scaling their operations and unlocking long-term growth. The firm targets opportunities across sectors such as transportation and logistics, digital infrastructure, environmental services, energy transition and power, and other essential assets. ERA seeks to invest in opportunities with real assets, downside protection, stable income, and growth potential while utilizing a repeatable, process-driven value creation model.
To learn more, visit www.erapartners.com.
About StepStone
StepStone Group Inc. (NASDAQ:STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of June 30, 2025, StepStone was responsible for approximately $723 billion of total capital, including $199 billion of assets under management. StepStone's clients include some of the world's largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.
The information presented in this press release is the opinion of ERA and does not reflect the view of any other person or entity. The information provided is believed to be from reliable sources but no liability is accepted for any inaccuracies. This is for information purposes and should not be construed as an investment recommendation. Past performance is no guarantee of future performance. ERA is an investment adviser registered with the U.S. Securities and Exchange Commission.
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Jaclyn Sene
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