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AION is being established by ICICI Venture in strategic partnership with Apollo Global Management. Apollo is a US-based private equity-focused, global alternative asset manager with approximately USD 70 billion of assets under management. AION’s investment mandate, which complements ICICI Venture focus on growth capital and buyout private equity transactions, will be to pursue investment opportunities in special situations, including financial restructurings, recapitalizations, leveraged buyouts and promoter financings. The idea behind the formation of AION was to bring together the complementary skills of ICICI Venture and Apollo to pursue a compelling opportunity in an underserved segment of the Indian market. We believe that the combined capabilities of these two organizations, in India and globally, make them uniquely qualified to pursue this opportunity. ICICI Venture, with the support of the wider ICICI Group, will contribute its strong India-focused private equity investment experience, local market intelligence and access to relationships with entrepreneurs and management teams across a wide cross-section of Indian companies, as well as relationships within the Indian banking and financial community. Through the Apollo organization, AION will have access to proven expertise in stressed and distressed investing, as well as its deep industry-specific knowledge, creative financial structuring skills and extensive global relationships.
