Brescon in talks with investors for raising $250-300 mn for its AIF

Debt restructuring and turnaround specialist firm Brescon & Allied Partners LLP (Brescon) has initiated early talks with domestic and global investors to raise around $250-300 million (around Rs 1,875-2,250 crore) as part of an Alternative Investment Fund (AIF).

“We aim to do deals worth Rs 2,500 - 3,000 crore, targeting around 4-6 transactions in the current calendar year," stated Nirmal Gangwal, managing partner of Brescon.

The firm is also in discussions to close a deal for investing $150 million which could be through the AIF, or the recent strategic partnership with Singapore-based Broad Peak Advisors (Broad Peak), which closed in November.

“The fund,