IM+ Capitals Limited (BSE:511628) (Brescon) to raise around $250-300 million (around INR 18.75 billion – INR 22.50 billion) as part of an Alternative Investment Fund (AIF). “We aim to do deals worth INR 25 billion- INR 30 billion, 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.

“We plan to raise our own AIF with at least $250-300 million fund size and it could be larger. We are working on the strategy, objective and mandate of the fund. We are in early discussions with LPs (limited partners), domestic and part global and other wealth managers,” Vishal Prakash added.

Brescon is also evaluating the option of getting capital from Gangwal's family office. The commitment could be around 5-10% of equity or around $10-13 million (INR 0.75 billion – INR 1 billion).