Los Angeles-based Aurora Capital Partners has closed its seventh middle-market private equity fund, Aurora Equity Partners VII, with $2.1bn in total capital commitments, its largest fund to date, exceeding its initial fundraising target.

The fund attracted commitments from both returning and new investors, including pension funds, insurance companies, family offices, asset managers, and industry consultants.

The raise surpasses the $1.65bn secured for its predecessor fund in 2021, and brings Aurora’s total assets under management to $6bn.

Fund VII will continue Aurora’s focus on middle-market companies in business services, industrial services, and tech-enabled services. The firm leverages its Strategy & Operations Program to drive growth and operational improvements across portfolio companies.

The fund has already deployed capital, completing an investment in GenServe, a leading U.S. provider of commercial and industrial standby power generators. Aurora also recently sold FMG, a cloud-based marketing automation provider, to GTCR, and recapitalised embedded logistics firm PSC Group with TJC.

Aurora was advised by Kirkland & Ellis and PJT Park Hill on the fundraise.