Axis MF, Inversion Advisory launch AIF to invest in underperforming firms

Plans to raise Rs 3,500 cr; Axis AMC to be investment manager of the fund, Inversion to provide operational and turnaround expertise

Axis Asset Management Company (AMC) and telecom sector veteran Akhil Gupta-led Inversion Advisory Services have entered a partnership to invest in underperforming companies. The joint entity plans to raise Rs 3,500 crore for the proposed new alternative investment fund (AIF).

The fund will acquire controlling stake primarily in pre-stressed, stressed, distressed and other underperforming assets. Axis AMC will be the investment manager of the fund with its end-to-end investment and fund management credentials.

Inversion will provide operational and turnaround expertise for the fund. The investment manager will employ a team to evaluate potential opportunities. Inversion would provide management support to