Areion Assets Management, the investment management arm of Areion Group, has launched a Category-III alternative investment fund (AIF) named Areion Growth Fund – GIFT City. The fund aims to raise $60 million (around Rs 570 crore) from offshore investors, providing them access to India‘s special situations, structured credit, and distressed asset opportunities, the company said in a statement.Registered under the International Financial Services Centres Authority (IFSCA) Regulations, 2025, the fund will have a tenure of five years, extendable by up to two years. It will evaluate opportunities across sectors such as infrastructure, manufacturing, hospitality, financial services, and real estate-linked assets.The investment strategy will focus on recovery-led value creation through active resolution management, operational turnaround support, negotiated settlements, and strategic asset monetization. Areion’s investment mandate spans securities across India’s credit spectrum, including participation in Insolvency and Bankruptcy Code (IBC)-led resolutions, one-time settlements, and strategic exits to operating companies.
Areion Group’s background
Areion Group, founded in 2013 by former Omkara Asset Reconstruction executive Manish Lalwani, focuses on corporate finance, special situations, and strategic investments. The firm advises financial sponsors and mid-market companies on mergers and acquisitions, distressed debt resolutions, recapitalizations, equity infusions, and external commercial borrowings.The group entered the alternative investment space in 2019 and currently offers both Category I and II funds. Since its inception, the firm has deployed around Rs 3,000 crore in special situation assets. It has managed the resolution of stressed loans across sectors including textiles, metals, pharmaceuticals, auto components, specialty chemicals, real estate, and education.