Reliance AIF Asset Management Co. Ltd is raising its first equity-focused alternative investment fund (AIF) of up to Rs1,000 crore, called Reliance Equity Opportunities AIF-Scheme 1, a company executive said.
Reliance AIF, a unit of Reliance Nippon Life Asset Management Ltd, expects the new fund to achieve its first close in about a month. A first close is the point at which a fund that is in the process of raising money starts investing.