JPMorgan exits infrastructure investment space in India; Rohatyn Group gets AIRRO
In Mumbai, The Rohatyn Group (TRG), announced that it has acquired the J.P. Morgan Asian Infrastructure and Related Resources Opportunity (AIRRO) platform. The Rohatyn Group (TRG) is a specialized asset management firm focused on emerging markets.
JPMorgan has exited the India infrastructure investment space with the sale of AIRRO. In December, JPMorgan was also looking to sell its maiden Indian real estate fund for which they had raised $360 million called JPMorgan India Property Fund.
Rajeev Kalra, TRG managing director and head of India, will lead the combined group in Mumbai and New Delhi. Also by 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.
TRG, founded in the year 2002, is an emerging markets asset management firm headquartered in New York. TRG had made its entry to India through the acquisition of Citi Venture Capital International global portfolio in the year 2013, which included investment in India. The company has offices in Boston, Singapore, Seoul, Rotorua, London, Buenos Aires, Lima, Montevideo, Mexico City, São Paulo, Mumbai and New Delhi.