AASCOF shall seek to provide credit solutions to medium and large enterprises that are at the verge of turnaround with good quality inherent operating business. The Fund is sector agnostic with deal sizes ranging between INR 100-400 crore. However, the Fund may end up investing in larger ticket sizes based on additional co-investments from domestic and foreign investors.
Mr. Naresh Kothari, Managing Partner said, ‘The overwhelming response received by AASCOF is a reflection of the strong track record of the team and the strategy over the past 4 years. We have launched a one-of-its-kind structured credit fund that focuses on funding high quality operating
Businesses rather than investing in high-risk assets thereby creating a sustainable asset class and a desirable alternative to volatile equity markets and low-yielding fixed income investments for our
The fund raise is a testimony to investors’ confidence and trust in the differentiated product suite of Alpha Alternatives given this is the one of the largest domestic first close for a first time fund in the private credit space in India. With vintage of more than 10 years in the alternatives space, we will keep building our track record and further expand in this space”, he added.
Mr. Kaushal Biyani, Partner and Fund Manager said, ‘We continue to see significant opportunities in the private credit space in India. We aim to create nuanced win-win solutions for borrowers by providing them restructuring and growth funding while maintaining a robust risk management framework for delivering superior risk-adjusted returns to our investors. We are thankful to all our investors who have participated in this fund, reposing their confidence in our investment strategy and track record.’
About Alpha Alternatives: Alpha Alternatives is a multi-asset class asset management firm that creates sophisticated investment solutions for proprietary and client capital. We provide investors access to differentiated investment opportunities, which are usually restricted to the prop investment desks. We walk the extra mile towards product innovation, alpha creation, and risk management. We are singularly focused on creating alpha in everything that we do, and this is reflected in our product structures, our partner relationships, and our economics.
Highlights:
- Alpha Alternatives announces the first close of its Structured Credit Opportunities Fund, with INR 2100+ crore commitment from anchor investors in India and additional US$ 50 million (INR 400 crore) co-investment commitment from an offshore institutional investor.
- Besides the INR 2100+ crore, investors also have a right to co-invest another INR 1800 crore, thus totalling the commitment to about INR 4000+ crore.
- AASCOF, a Category II, Alternate Investment Fund (AIF), shall invest about INR 100-400 crore in 10-15 transactions across special situations, debt restructuring opportunities and operating equity opportunities.
- The first close has been achieved exclusively through direct investor relationships of the platform.
- AASCOF will be managed by Kaushal Biyani, Partner, and Alpha Alternatives with a 15 member investment management team.
