Aurora Capital Group has held a closing of its second fund, Aurora Resurgence Fund II LP (Resurgence Fund II), with $550 million in capital commitments. The new fund received strong support from existing investors in Aurora’s funds, and also attracted a variety of new investors led by AlpInvest Partners and funds managed by Goldman Sachs Asset Management.
Resurgence Fund II will continue Aurora’s strategy of investing in the equity and junior capital of middle market companies, seeking controlling positions in complex situations created by operational or financial challenges. The fund’s investment mandate has allowed it to execute on corporate carve-outs, quick sale processes, rescue financings, 363 auctions and secondary debt purchases in both the US and Europe.
“We are delighted to announce the closing of our second Resurgence Fund, which will allow us to continue pursuing our flexible and proven investment strategy,” said Gerald Parsky, Chairman of Aurora Capital. “Aurora Resurgence is known for its disciplined approach and strong track record in the middle market. We look forward to leveraging our highly experienced investment team, our Executive Board and our operating executives to identify attractive opportunities, improve operations and build great companies.”
Aurora Capital focuses principally on control-investments in middle-market industrial, manufacturing and service oriented businesses. The firm, founded in 1991, has $2 billion of capital under management and is headquartered in Los Angeles (www.auroracap.com).
“We see a tremendous opportunity for Resurgence Fund II and are grateful for the confidence placed in us by our limited partners. The quality of our investor base provides us with committed long-term partners and a solid foundation of flexible capital. This will enhance our ability to work closely with management teams and other stakeholders to help drive financial growth and operational improvements for companies across a range of industries,” said Steven Smith, Managing Partner of Aurora Resurgence.
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-24-13