EUROPE - F&C Private Equity holds EUR 30m first close of Aurora Fund
London-listed private equity investor F&C Private Equity has held a EUR 30m first close of its Aurora Fund, a new vehicle focused on acquiring secondary interests in predominately European private equity funds and co-investments.
The fund, which specialises in investments in buyout and mezzanine funds, recently made its first investment when it completed the acquistion of Icelandic bank Landsbanki's private equity fund interests, representing over EUR 65m of original commitments, in October.
Investors in the Aurora Fund include UK and Dutch pension funds.
F&C Private Equity has acquired over EUR 45m of secondary positions since 2004, generating an IRR of 32% at 31 December last year.
The investor also manages F&C European Capital Partners LP, a fund-of-funds that closed in 2008 on EUR 173m.
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