TGR takes over investment platform
The Rohatyn Group (TRG), a specialized asset management firm focused on emerging markets, has acquired the J.P. Morgan Asian Infrastructure & Related Resources Opportunity (AIRRO) platform from J.P. Morgan Asset Management.
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.
Nicolas Rohatyn, Chief Executive Officer and Chief Investment Officer of TRG, said, “We are thrilled to welcome AIRRO investors to our firm and further our mission of providing LPs with thoughtful solutions to achieve their investment goals in emerging markets. As with other platform acquisitions that TRG has previously undertaken, our highest priority will be to maximize the AIRRO portfolio’s value with an eye towards successful realization of its investments.”
“We are pleased that The Rohatyn Group is the new home of the AIRRO platform and team,” said Anton Pil, Managing Partner, J.P. Morgan Global Alternatives in a press release on 21 May 2018. “TRG’s pedigree, infrastructure and emerging markets experience, and acquisition, integration and realization track record will provide stability and continuity for the AIRRO investors.”
The AIRRO funds currently hold approximately US$750 million in Indian assets across investments spanning the toll road, thermal power, renewable energy, and social infrastructure sub-sectors.
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.
Kalra commented, “Since establishing its private markets presence in India in December 2013 with the acquisition of Citi Venture Capital International (CVCI), TRG has executed a number of value accretive initiatives in its investments to achieve seven successful exits in its India portfolio, despite complex circumstances in a number of cases. We are well positioned to apply our skills and knowledge base to the AIRRO portfolio and other future initiatives.”
Rohatyn added, “TRG is excited to supplement our current investment capabilities in both India and infrastructure more broadly. We see a pressing need for increased and improved infrastructure across emerging markets to perpetuate the strong growth and dynamism of these economies. The firm has a deep pool of investment professionals with decades of experience investing in the sectors and markets where AIRRO operates, and are excited to bolster these resources with the experience of the AIRRO team to achieve successful outcomes for our investors.”
Founded in 2002, The Rohatyn Group is an emerging markets asset management firm headquartered in New York, with offices around the globe including Boston, Singapore, Seoul, Rotorua, London, Buenos Aires, Lima, Montevideo, Mexico City, São Paulo, Mumbai and New Delhi.
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management with more than US$130 billion in assets under management and over 800 professionals (as of March 31, 2018). fii-news.com
