InCred Alternative Investments (part of InCred Capital Financial Services Limited) announced securing commitments of over $70 million in its maiden special situations credit fund, InCred Special Opportunities Fund-I (ISOF-I).
These commitments were raised from a clutch of domestic and offshore LPs, showcasing the keen interest that the Indian private credit market is generating for funds and managers with a demonstrated track record. And ISOF-I is expected to continue attracting investor interest and mobilising further commitments in the fund during the year.
InCred Special Opportunities Fund (ISOF-I), which is a Category II Alternative Investment Fund (AIF), has a base size of $175 million (including green shoe option of $60mn) and is designed to deliver its investors a superior risk-adjusted return in a market-agnostic strategy, with regular distributions generating significant alpha.
Through a flexible investment strategy and expecting returns much higher than performing credit mandates, the fund focuses on old economy sectors with a strong collateral cover ensuring a downside-protected and well-diversified portfolio. And it is managed by a team of seasoned investment professionals with deep expertise in credit and special situation investing.
InCred Alternatives entered the special opportunities space after the success of a performing credit strategy, where it manages two funds with over $150 million of commitments, with an established track record of income distribution.
KEY QUOTES:
“We are thrilled to announce securing commitments over $70mn in InCred Special Opportunities Fund (ISOF-I) reinforcing our commitment to delivering innovative private credit solutions. By leveraging InCred Group’s origination strengths and a seasoned underwriting team, we aim to generate 21-23% returns. ISOF-I is well-positioned to capitalise on evolving market opportunities, such as dislocated secondary opportunities, cash flow mismatch situations in the economic cycle and flexible debt solutions, while delivering sustained value for our investors.”
Saurabh Jhalaria, Chief Investment Officer – Private Credit, at InCred Alternatives
