New Delhi, Dec. 8 -- Areion Asset Management, the alternative investment fund (AIF) arm of Areion Group, has completed the first close of Scheme IV under its Category I Special Situation Fund.
The fund has a total corpus of Rs 500 crore ($55.4 million), of which Areion has raised 25%, the company said in a press note.
Areion AMC entered the AIF space in 2019 and has since launched one Category I fund and one Category II fund.
Since inception, it has deployed around Rs 3,000 crore in special situation assets and expects to deploy more than Rs 2,000 crore over the next three-six months, the note said.
The company also plans to begin operation from its GIFT City branch early next quarter.
Further, Areion AMC expects to complete the final close of the fund well ahead of the mandated timeline, cementing its position in India's stressed-asset investment landscape, the note said.
"This investment positions Areion to scale responsibly while contributing meaningfully to India's broader goals of financial stability and sustainable growth," Manish Lalwani, founder and managing director of Areion Group, said.
Founded in 2013 by Lalwani, the Areion Group specializes in distressed asset solutions. Its businesses span alternative asset management, transaction advisory, non-banking financial companies, and asset reconstruction units.
Areion Asset Management focusses on stressed loan management and turnaround specialization, offering end-to-end services to corporates, banks, non-bank lenders, and asset reconstruction companies.
Published by HT Digital Content Services with permission from VC Circle.