InCred Asset Mgmt Raises Rs 300 Cr In Funding
Expectedly, fund will make 20-25 debt investments at 16-18 per cent rate whereas nearly 10 are already in the pipeline, according to an official. InCred Credit Opportunities Fund I (ICOF-I) is the first alternatives offering from InCred
The InCred Asset Management made announcement of raising of Rs 300 crore from large family offices and high net worth individuals for its maiden credit fund – InCred Credit Opportunities Fund I (ICOF-I). Whereas the intended base fund size was Rs 500 crore.
Along with providing flexible secured debt financing to emerging corporates and financial institutions, ICOF-I is the first alternatives offering from InCred.
During the first close within three months of its launch, the fund crossed 60 per cent subscription, according to the company.
Expectedly, fund will make 20-25 debt investments at 16-18 per cent rate whereas nearly 10 are already in the pipeline, according to an official.
Due to a volatile equity market, the fund offers an alternate investment product for the investors, the official added. Led by a differentiated fund strategy along with growing appetite amongst investors for high yield debt products as an effective diversification play, there is a strong demand for this yield-oriented fund.