Aurora Capital Partners collected around $1.3 billion for its sixth fund, which is targeting $1.5 billion, sources told Buyouts.
Fund VI is expected to hold a final close later this year, the sources said. It was expected to launch Fund VI into the market in the first quarter, Buyouts previously reported.
A spokesman for Los Angeles-based Aurora declined to comment. Park Hill Group is working as placement agent on the fundraising.
Aurora invests in middle-market companies in industrial services and distribution, specialty manufacturing and software and tech-enabled services. Aurora is led by John Mapes, Josh Klinefelter, Michael Marino and Mark Rosenbaum.
Aurora closed its fifth fund on $1.2 billion in 2017. The firm closed Fund IV on $535 million in 2011. The firm was formed by Gerald Parsky, former assistant secretary of the treasury in the administration of President Gerald Ford.
Parsky, who holds the title of senior adviser and chairman, is no longer involved in day-to-day management of the firm, sources said.
Earlier this month, Aurora announced its acquisition of Cold Chain Technologies, which makes packaging for shipment of temperature-sensitive materials, serving primarily the life sciences supply chain.
Action Item: Check out Aurora’s Form ADV here: https://bit.ly/2qjYdYz