Blue Sky returns $686.5M in funds, including for three Aura projects, to investors

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The move will cut 15% from the private equity firm’s fee-earning assets – in total, its assets under management are down from $4.1 billion to $3.4 billion.

Blue Sky withdrew from the three projects it was funding with Tim Russell and Mark Taylor’s Aura Holdings after the Brisbane Council announced it was backing down from incentives that allowed village and aged care developments to be built on sports land.

The eight projects in Aura’s development pipeline is now being fully funded by their other major investor Singapore’s SC Capital.