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.
Registered under the International Financial Services Centres Authority (IFSCA) Regulations, 2025, the fund aims to provide offshore investors with access to India's special situations, structured credit and distressed asset opportunities, the company said in a statement.
The fund is targeting a corpus of $60 million (around Rs 570 crore) and 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.
It entered the alternative investment space in 2019 and currently offers both Category I and II funds. Since inception, the firm has deployed around Rs 3,000 crore in special situation assets.
Founded in 2013 by former Omkara Asset Reconstruction executive Manish Lalwani, Areion Group 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 has managed the resolution of stressed loans across sectors including textiles, metals, pharmaceuticals, auto components, specialty chemicals, real estate, and education.
