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Avendus has raised more than Rs 1,000 crore in the first close of its third structured credit fund, as demand from high-net-worth individuals (HNIs) and family offices for customised private debt solutions grows in India’s evolving credit market.
The Mumbai-based financial services firm launched Avendus Structured Credit Fund III (ASCF III) earlier this year and has already drawn 15 per cent of the capital, said Anshul Jain, Executive Director, Avendus Structured Credit Fund.
The fund aims to raise Rs 2,000 crore with a green shoe option for an additional Rs 2,000 crore, targeting gross portfolio internal rates of return (IRRs) between 16 per cent and 18 per cent, according to a company press statement.
The fund focuses on tailored private credit solutions, primarily through secured debt investments in both operating and holding companies, with selective exposure to hybrid instruments, the company said.
Over the past eight years, Avendus has executed more than Rs 10,000 crore in private credit deals and built a portfolio spanning over 100 transactions.
Its platform focuses on companies in pharmaceuticals, manufacturing, healthcare, B2B services, consumer, and technology sectors.
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