Aura rolls out evergreen private equity and credit fund
Alternative asset manager and adviser Aura Group has launched an evergreen private markets strategy, allocating to both private equity and private credit.
The Aura PE Evergreen Income Fund is targeting a 60 per cent allocation to private equity and 40 per cent to private credit.
The move to develop a blended vehicle comes as traditional private equity structures present challenges, such as capital call drag, multi-year lock-ups, limited income and difficulty sizing positions within a broader portfolio, Aura said.
The fund’s evergreen structure eliminates capital calls, while the 40 per cent private credit allocation helps generate regular income and underpins a quarterly liquidity mechanism, the firm said.
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“We know that private equity exposure is increasingly in demand, but the traditional model creates real implementation challenges at the portfolio level,” said Calvin Ng, managing director, Aura Group. “Capital calls, extended lock-ups and the absence of income during the investment period make it difficult to size private equity within a managed portfolio.
“The Aura PE Evergreen Income Fund is built to reduce those barriers without compromising on return potential.”
The fund’s structure comes as investors increasingly seek evergreen vehicles offering greater liquidity and more predictable income, with 123 evergreen funds launched globally in 2025, according to Preqin data.
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The Singapore-domiciled fund targets net returns of 12-15 per cent per annum and a distribution yield of five per cent per annum, paid semi-annually, with no capital calls and quarterly dealing windows following an initial 12-month lock-up from fund inception, the firm added.
The blended evergreen fund builds on Singapore-headquartered Aura’s existing private equity and private credit investment platforms, with the firm currently having A$1bn (£528.8m) in funds under advice and management.
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