Firms & Funds

Aurora Capital set to launch biggest flagship fund yet

-
Aurora Capital, private equity
Aurora borealis over a tree line outside Fairbanks, Alaska, in January 2016. Photo courtesy Elizabeth M. Ruggiero/iStock/Getty Images
  • Fund VI could launch this quarter
  • Quick turnaround for Aurora as Fund V closed in 2017
  • Firm promoted two to partner in December

Aurora Capital is set to launch its sixth flagship fund, which could target up to $1.5 billion, a source with knowledge of the firm told Buyouts.

Fund VI is a quick turnaround for the firm, which closed its fifth fund on $1.2 billion in May 2017. The pool would be Aurora’s largest yet.

Aurora, formed in 1991 by Gerald Parsky, assistant secretary of the treasury in the administration of President Gerald Ford, is expected to launch Fund VI this quarter, the source said.

No one from Aurora returned a request for comment. Park Hill Group is placement agent on the fundraising.

Aurora targets middle-market industrial services and distribution, specialty manufacturing and software and tech-enabled services. The firm is led by John Mapes, Josh Klinefelter, Michael Marino and Mark Rosenbaum.

The Los Angeles firm closed Fund IV on $535 million in 2011.

In August, Aurora announced the sale of Restaurant Technologies to West Street Infrastructure Partners III, managed by Goldman Sachs.

The firm in December promoted Randy Moser and Andrew Wilson to partner from principal.

Action Item: Check out Aurora’s Form ADV here: https://bit.ly/2qjYdYz