# AION Capital Partners

AION Capital Partners is a Special Situations based in Mumbai, India.

## Overview

- **Organization type:** Special Situations
- **Headquarters:** Mumbai, India
- **Region:** Asia
- **Address:** Mumbai, India
- **Founded:** 2011
- **Assets under management:** Undisclosed
- **Website:** https://www.aioncapital.com
- **LinkedIn:** https://www.linkedin.com/company/aion-capital-partners

## Regulatory record

- **Reports private funds:** No

## About

AION Partners is a US-based real estate investment firm founded by principals who previously built DCD America. The firm acts as principal and arranger for opportunistic investments. AION has made 42 investments, including a Series A investment in Ad Fontes Media on April 19, 2023.

## Sectors

- Private Credit

## Offices

- Grand Rapids, MI, United States

## Questions

### Who is behind AION Capital Partners?

AION was established as a joint venture between Apollo Global Management, one of the world's largest distressed-credit investors, and ICICI Venture, the private-equity arm of India's ICICI Group. This partnership gives AION a dual identity: it benefits from Apollo's restructuring expertise and global LP relationships while operating through ICICI Venture's on-ground origination network in India. The structure was designed specifically to target Indian special-situations and nonperforming-asset opportunities.

### How does AION source deals differently from other India credit managers?

AION combines Apollo's institutional distressed-credit playbook with ICICI Venture's domestic origination network, giving it a window into India's banking-led NPA pipeline. This dual-track sourcing model is unusual among India-focused credit funds, many of which lack the same depth of cross-border restructuring experience or the same level of foreign institutional backing.

### Does AION invest outside India?

AION's mandate is focused on Indian special situations and structured credit. Its dual-office footprint in Mumbai and Grand Rapids reflects the cross-border capital flow — US LP capital routed into India — rather than a multi-jurisdiction deployment strategy. The firm has not publicly signaled geographic expansion beyond India.

## Related profiles

- [XL8 Inc.](https://altss.com/profile/xl8-inc)

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Last updated: 2026-06-03T20:00:00.000Z

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