AION Capital Partners, a joint venture between private equity firms Apollo Global Management and ICICI Venture, has reached a final close on its India-focused special situations fund with US$825 million in capital commitments. The close exceeded the fund’s initial US$500 million target. AION completed its first transaction in September 2013, investing US$23 million in Jyoti International, a subsidiary of India-based Jyoti Structures, which engages in power transmission, procurement and construction projects.