- Erickson joined Gores Group in May 2011
- Gores is investing on deal-by-deal basis
- Aurora Capital Fund V closed on $1.2 bln in 2017
Scott Erickson has left Gores Group after eight years, according to three sources.
A May 14 email to Erickson at Gores generated an automatic reply: “Please note that Scott Erickson is no longer with the firm.” Erickson no longer appears on the Gores website.
Erickson joined Gores Group in May 2011, his LinkedIn said. He most recently was a principal and head of business development at Gores.
Erickson is joining Aurora Capital Partners, the people said. He will be leading the firm’s business development, one source said. Aurora declined comment.
Formed in 1991, Aurora targets middle-market industrial services and distribution, specialty manufacturing and software and tech-enabled services.
The Los Angeles PE firm was expected to launch its sixth flagship fund, possibly in Q1, Buyouts reported in January. Fund VI could seek up to $1.5 billion, the story said. Aurora fifth flagship closed on $1.2 billion in May 2017.
Gores Group has not raised a fund since 2011, when its third pool collected $2 billion. Founded in 1987, the Los Angeles firm typically invests in challenging situations. The firm is not planning to raise a new institutional fund in the immediate future, Buyouts reported in 2018.
Instead, the firm has opted to invest the personal capital of Alec Gores and select outside investors, on a deal-by-deal basis. The PE firm continues to raise SPACs to acquire specific companies, the story said. Gores Metropoulos, a blank-check company, completed a $400 million IPO in February.
Gores could not be reached for comment.
Action Item: At Gores Group contact Jennifer Kwon Chou, a managing director, at firstname.lastname@example.org