The Rohatyn Group (TRG) has acquired the J.P. Morgan Asian Infrastructure & Related Resources Opportunity (AIRRO).
In addition to acquiring the rights to manage the AIRRO funds, the India-based AIRRO investment team will join TRG’s India private markets team as part of the transaction. Rajeev Kalra, TRG managing director and head of India, will lead the combined group from offices in Mumbai and New Delhi.
The AIRRO funds currently hold approximately $750 million in Indian assets across investments spanning the toll road, thermal power, renewable energy and social infrastructure subsectors. The addition of AIRRO’s portfolio of Indian infrastructure assets is a strong strategic fit with TRG’s focus on structural and special opportunities in emerging markets. TRG has multifaceted experience in infrastructure and renewable energy, including CapAsia, TRG’s Southeast Asian infrastructure subsidiary, which is in the process of being fully integrated into the firm.