The Rohatyn Group, an emerging markets asset management firm, has acquired the J.P. Morgan Asian Infrastructure & Related Resources Opportunity platform, funds holding a combined $750 million in Indian infrastructure assets, said Columbia Clancy, spokeswoman for The Rohatyn Group, in an email.
Infrastructure projects owned by the funds include assets in the toll road, thermal power, renewable energy and social infrastructure sectors in India.
The J.P. Morgan Asset Management (JPM) Asian infrastructure and related resources opportunity team will be joining The Rohatyn Group'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 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," Ms. Clancy said.
Financial terms are not being disclosed. JPMAM executives are declining to comment beyond information in a news release, said Kristen Chambers, JPMAM spokeswoman, in an email.
JPMAM has about $130 billion in total assets under management in its global alternative investment business. TRG's AUM could not be learned by press time.