Key Takeaways
- • Aurora Capital Partners closed Aurora Equity Partners VII at $2.1 billion, exceeding both its $1.8 billion hard cap and original target, representing the firm's largest flagship fund to date.
- • The oversubscribed final close demonstrates strong institutional demand for middle-market private equity strategies despite macro headwinds during the fundraising period.
- • Kirkland & Ellis provided legal counsel on the transaction, underscoring the institutional caliber of the fund raise and the Los Angeles-based firm's standing in the PE market.
- • The $2.1 billion close positions Aurora Capital Partners among active middle-market PE managers successfully deploying capital at scale in 2017.
Summary
Aurora Capital Partners has successfully closed Aurora Equity Partners VII (AEP VII) at just over $2.1 billion in committed capital, exceeding its hard cap of $1.8 billion and surpassing the original fundraising target. The final close marks the largest flagship fund in Aurora's history and reflects sustained institutional appetite for middle-market private equity strategies.
The oversubscription signals confidence in Aurora's investment thesis and track record among limited partners. The $2.1 billion raise substantially outperformed the hard cap, indicating that demand from institutional investors—including family offices, public pension funds, and endowments—exceeded the firm's capacity constraints. This outcome is particularly noteworthy given the competitive fundraising environment in 2017 and demonstrates Aurora's ability to attract capital at scale for middle-market investments, typically targeting companies with $50 million to $500 million in EBITDA.
Kirkland & Ellis provided legal counsel to Aurora Capital Partners on the fund close, highlighting the transaction's institutional significance and the firm's established relationships with top-tier legal advisors. The successful close of AEP VII follows Aurora's track record of raising increasingly larger funds, positioning the firm as a meaningful participant in the middle-market PE segment. With $2.1 billion committed, Aurora is well-capitalized to pursue platform acquisitions and add-on investments consistent with its investment strategy through the deployment cycle.
The oversubscription signals confidence in Aurora's investment thesis and track record among limited partners. The $2.1 billion raise substantially outperformed the hard cap, indicating that demand from institutional investors—including family offices, public pension funds, and endowments—exceeded the firm's capacity constraints. This outcome is particularly noteworthy given the competitive fundraising environment in 2017 and demonstrates Aurora's ability to attract capital at scale for middle-market investments, typically targeting companies with $50 million to $500 million in EBITDA.
Kirkland & Ellis provided legal counsel to Aurora Capital Partners on the fund close, highlighting the transaction's institutional significance and the firm's established relationships with top-tier legal advisors. The successful close of AEP VII follows Aurora's track record of raising increasingly larger funds, positioning the firm as a meaningful participant in the middle-market PE segment. With $2.1 billion committed, Aurora is well-capitalized to pursue platform acquisitions and add-on investments consistent with its investment strategy through the deployment cycle.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.