Singapore-based financial services firm Aura Group has launched the Aura PE Evergreen Income Fund, an evergreen private markets strategy designed to address the liquidity, income and capital call challenges that have historically restricted private equity allocation in advised portfolios.
The Singapore domiciled fund targets 12 percent to 15 percent per annum net returns and a 5 percent p.a. distribution yield paid semi-annually, with no capital calls and quarterly dealing windows following an initial 12-month lock-up from fund inception, Aura said in a statement on Thursday.
It is noted that for advisers constructing private markets allocations, traditional private equity structures present well-documented challenges: capital call drag, multi-year lock-ups, limited income and difficulty sizing positions within a broader portfolio.
The Aura PE Evergreen Income Fund is structured to address each of these friction points directly.
The evergreen structure eliminates capital calls. The 40 percent private credit liquidity sleeve — anchored by Aura’s established income strategies — provides regular distributions and underpins the quarterly liquidity mechanism.
The blended portfolio construction targets returns from an earlier stage than a traditional PE fund structure would deliver.
“We designed this fund with the adviser-directed market in mind. We know that private equity exposure is increasingly in demand, but the traditional model creates real implementation challenges at the portfolio level. 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. We feel uniquely positioned with longstanding d private credit and private equity platforms capable of supporting this type of structure. Bringing those capabilities together allowed us to build something we believe better reflects how today’s investors want to access private markets,” said Calvin Ng, Managing Director, Aura Group.
The launch follows increasing demand from advisers and sophisticated investors for private equity exposure without the cash flow uncertainty of conventional closed-end structures.
According to Preqin, a record 123 evergreen funds were launched globally in 2025, with 30 more in the first two months of 2026 alone — putting the market on pace to exceed last year’s record.
Hamilton Lane forecasts that 20 percent of all private market capital will be held in evergreen structures within a decade, up from around 5 percent currently.
The fund also draws on two of Aura’s existing investment platforms: Private Equity (target 60 percent) and Private Credit (target 40 percent).
For Private Equity, over A$100 million ($71.95 million) deployed across Australian and Southeast Asian markets, with an 18.3 percent net pooled internal rate of return (IRR) and 1.54 times of gross realizations to date across Aura’s deal-by- deal private equity track record.
As for Private Credit, it is anchored by the Aura Private Credit Income Fund (APCIF), with 9.42 percent per annum net returns since inception, more than 100 consecutive monthly distributions paid, and no capital losses to investors since inception.
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