Key Takeaways
- Sector: Business Services, Industrials, Technology Software & Gaming.
- Geography: United States.
Analysis
Aurora Capital Partners, a Los Angeles-based private equity firm, has successfully closed Aurora Equity Partners VII (AEP VII) with over $2.1 billion in capital commitments. The fund significantly exceeded its initial target, marking the firm's largest fundraise since its founding in 1991.
AEP VII drew strong support from both new and existing limited partners, including public and corporate pensions, insurance companies, family offices, and asset managers. This demonstrates continued confidence in Aurora’s proven approach to middle-market investing in the United States.
The fund will target businesses across business services, industrial services, and tech-enabled services. Aurora employs a hands-on approach through its proprietary Strategy & Operations Program to scale portfolio companies and drive strategic transformation.
This latest vehicle surpasses the size of Fund VI, which closed in 2021 with $1.65 billion. The successful raise comes amid a challenging exit environment, further underlining Aurora’s ability to attract institutional capital with its consistent long-term track record.
Josh Klinefelter, Partner at Aurora, stated: “The successful close of this fund reflects a strong endorsement of our team’s ability to drive scale and strategic transformation. We are excited to build on this momentum.”
Mark Rosenbaum, Partner, added: “We continue to see significant opportunities to build market-leading companies across our target sectors and are energized by what lies ahead.”
Fund VII is already active, having completed an investment in GenServe, the largest independent provider of commercial and industrial standby power generators in the U.S. The firm is also pursuing several other opportunities in its robust deal pipeline.
Recent exits from Aurora include the announced sale of FMG, a provider of cloud-based marketing tools for financial advisors, to GTCR. Additionally, PSC Group was recapitalized in a transaction with TJC, LP (formerly The Jordan Company), further demonstrating Aurora’s ability to navigate and capitalize in today’s complex deal landscape.
Kirkland & Ellis served as legal counsel, while PJT Park Hill acted as the placement agent for the fundraise.
Founded in 1991, Aurora Capital Partners manages over $6 billion in assets and focuses on U.S. middle-market companies with leading market positions and actionable growth strategies. The firm partners with management to deliver long-term value across cycles.