Aura Group launches evergreen fund targeting 12-15% returns and no capital calls
What's the deal? Aura GroupDealroom has a profile for this one. Try Dealroom → has launched the Aura PE Evergreen Income Fund, a Singapore-domiciled private markets strategy targeting 12-15% p.a. net returns and a 5% p.a. distribution yield paid semi-annually. The fund carries no capital calls and offers quarterly dealing windows after an initial 12-month lock-up.
What's the endgame? Aura wants to remove the friction that keeps private equity out of advised portfolios: capital call drag, multi-year lock-ups, and limited income. The evergreen structure eliminates capital calls, while a 40% private credit sleeve provides regular distributions and underpins the quarterly liquidity mechanism.
The remaining 60% targets private equity returns from an earlier stage than a traditional closed-end fund would deliver.
Why now? The launch follows growing demand from advisers and sophisticated investors for private equity exposure without the cash-flow uncertainty of closed-end structures. "We know that private equity exposure is increasingly in demand, but the traditional model creates real implementation challenges at the portfolio level," said managing director Calvin Ng.
By the numbers: The fund draws on two of Aura's existing platforms. Its private equity arm has deployed over A$100 million across Australian and Southeast Asian markets, with an 18.3% net pooled IRR. The private credit sleeve, anchored by the Aura Private Credit Income Fund, has delivered 9.42% p.a. net returns since inception, with more than 100 consecutive monthly distributions and no capital losses.
The signal: Evergreen structures are moving from niche to mainstream. Preqin recorded 123 new evergreen funds globally in 2025 and 30 more in the first two months of 2026, while Hamilton Lane forecasts that 20% of all private market capital will sit in evergreen vehicles within a decade — up from around 5% today.
Read more: prwire.com.au
Image credit: Visualvalhalla
