Aurora launches Russian fund

Mid-sized private equity firm Aurora Investment Advisors has launched a new Russian-focused fund with a target value of £50m.

Aurora II will invest in Aurora Russia’s shares and make direct investments in private, growth companies primarily in the financial, consumer and business services sectors in Russia. The fund will take minority or majority positions in these companies, with an exit strategy of three to five years.

Aurora Russia floated on the London Stock Exchange’s junior exchange AIM in 2006.

The firm, advised by Aurora Investments Advisors Limited, has made four investments, which include Unistream Bank, a Russian money transfer company; and Kreditmart Finance