Investing in stressed assets more attractive for firms like us: AION MD

AION focuses here on equity buyouts, hybrid capital solutions and investing in the distressed asset space, says Parth Gandhi

AION Capital Partners, an entity formed by ICICI Venture with Apollo Global, has been one of the few private equity (PE) funds which have been able to close an acquisition of a stressed asset under the National Company Law Tribunal, with Indian partners. Parth Gandhi, managing director, talks to Surajeet Das Gupta on strategy, performance and how it chooses investment targets. Edited excerpts:
 
How has your first fund done and when do you plan to raise the second one?
AION’s first fund is an India-focused one, with $825 million in committed capital; if we consider co-investments, it comes to