NEW YORK--(BUSINESS WIRE)--BTG Pactual Strategic Capital, Grupo Patio and Morning Calm Management are pleased to announce the launch of Aurora Industrial, LLC (“Aurora”), a platform company targeting acquisitions of US$ 1+ billion of U.S. Midwest industrial real estate over the next 3 years.
Aurora has closed on its first transaction, a 10-asset portfolio, comprising 1.7 million square feet in Detroit, Michigan. Aurora is targeting further investments in a focus region that spans most major Midwest MSAs.
James Frank, of BTG Pactual Strategic Capital, said: “We are extremely pleased with the progress of Aurora. The team, led by Mukang Cho, brings substantial expertise and we believe is positioned for great success.”
Mukang Cho, CEO of Aurora, commented, “I am excited to launch this new effort after having worked closely with the principals at BTG Pactual on prior transactions. We believe that our collective reputation for creative/flexible structuring, deep resources, and execution certainty will help position Aurora as a buyer of choice for sellers in this market.”
Chris Blundin, Managing Partner, and Grupo Patio Director in the United States, adds: "We are very optimistic about the great opportunities that this region offers us and we are sure that, with our experience in investments and asset management, we will be able to have a solid position in the United States.”
About BTG Pactual Strategic Capital
BTG Pactual Strategic Capital (“Strat Cap”) is an opportunistic investment strategy focused on asset-oriented businesses. Strat Cap partners with sponsors, management teams and business owners to create value. Strat Cap is led by a seasoned investment team with relevant experience in private equity, credit and tangible assets. Strat Cap is a part of the BTG Pactual Tangible Assets Group, which has nearly US$ 4 billion in assets and commitments.
About BTG Pactual
BTG Pactual (BPAC11) is the largest investment bank in Latin America and operates in the Investment Banking, Corporate Lending, Sales & Trading, Wealth Management and Asset Management markets. BTG Pactual Asset Management has an international presence with over US$ 70 billion in assets under management and administration as of December 2020. Since its inception in 1983, BTG Pactual has been managed based on the meritocratic culture of partnership, with focus on customer, excellence and long-term vision. The institution has consolidated itself as one of the most innovative in the sector, having won several national and international awards. Currently, it has almost 3,000 employees in offices throughout Brazil, Chile, Argentina, Colombia, Peru, Mexico, the United States, Portugal and England. For more information, please visit http://www.btgpactual.com.
About Morning Calm Management
Morning Calm Management is a vertically integrated real estate management firm with a focus on special situation investing. Through its affiliates, the firm owns and manages more than 5 million square feet of commercial real estate throughout the United States on behalf of private and institutional capital.
About Grupo Patio
Grupo Patio is a pan-regional multi-asset-class manager with over US$ 3 billion in AUM. Headquartered in Santiago, Chile, Grupo Patio manages real estate assets in Chile, Peru, Mexico and the US. Grupo Patio was founded in 2004 as a real estate developer and has been evolving into an integral active manager with over 11.8 million square feet in its portfolio (as of March 2021).
