New PE player Auxo Investment Partners eyes $50m for debut fund


lighthouse-375488_640Auxo Investment Partners, a new private equity firm which launched this week, is looking to raise $50m in equity for its first fund.

Founded by Jeff Helminski, Jack Kolodny and Fred Tedori, Auxo has already secured commitments half of the vehicle’s target and is currently in talks with additional founding partners for the remaining equity.

The firm based in Grand Rapids, Western Michigan, plans to deploy the raised capital in 10 to 15 investments over the next five years and add some co-investment equity and “modest levels of leverage” to finance the deals.

The three founding partners of the firm know each other from Michigan-based Blackford Capital. Helminski and Kolodny previously were managing directors at the firm and have collaborated with Tedori on five investments.

Under Auxo’s investment model, the founding partners are also investors in the firm itself and participate in all economic benefits generated by Auxo, including carried interest and fees.

They have a priority position ahead of the management partners in terms of the benefits received.

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