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Peek inside ex-Motilal exec Mittal-floated credit fund's dual asset deployment strategy

VCCircle

VCCircle · 10m ago

Peek inside ex-Motilal exec Mittal-floated credit fund's dual asset deployment strategy

Arnya RealEstates Fund Advisors, led by former Motilal Oswal Real Estate executive Sharad Mittal, is nearing the end of its fundraising for its first real estate credit fund. The Mumbai-based asset management fund aims to deploy its funds in two asset classes - structured debt and mezzanine lending. The firm is targeting a final close of the fund by the end of Q1 2022.

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Ex-Motilal Oswal exec Mittal’s new realty fund sets sight on first close

VCCircle

VCCircle · 1y ago

Ex-Motilal Oswal exec Mittal’s new realty fund sets sight on first close

Former Motilal Oswal Real Estate (MORE) head, Sharad Mittal, is set to achieve the first fundraising milestone for his real estate investment vehicle, Arnya Real Estate Fund Advisors, by the end of Q2. Mittal's fund received regulatory approval in December for the Arnya Real Estate Fund. The fund aims to provide investment opportunities in the real estate sector.

Neo Asset to foray into PE with new fund; ropes in ex-TPG NewQuest exec

VCCircle

VCCircle · 11m ago

Neo Asset to foray into PE with new fund; ropes in ex-TPG NewQuest exec

Neo Asset, the wealth management arm of Neo Group, is planning to expand into the private equity (PE) sector by launching a new fund. The company has previously raised funds for private credit and infrastructure funds. In this move, Neo Asset aims to diversify its investment offerings and cater to a wider range of investors. To support this venture, the company has recruited Nitin Agarwal, a former executive from TPG NewQuest, to join their team.

Motilal Oswal Alts hires former Axis AMC exec as chief investment officer

VCCircle

VCCircle · 6m ago

Motilal Oswal Alts hires former Axis AMC exec as chief investment officer

Motilal Oswal Alternates (MO Alts), the alternative investment division of Mumbai-based Motilal Oswal Group, has appointed a former executive from Axis Asset Management Company as its chief investment officer. MO Alts successfully raised over $200 million for its sixth real estate fund and is preparing to launch its fifth fund soon.

Neo Asset hires former True North exec Chheda to lead special situation strategy

VCCircle

VCCircle · 1y ago

Neo Asset hires former True North exec Chheda to lead special situation strategy

Neo Asset Management has hired Rubin Chheda, a former executive at True North, as its managing director to lead the firm's special situations credit strategy. Chheda will leverage his experience in managing institutional money to further enhance Neo's credit platform. He will work alongside Puneet Jain, the chief investment officer of Neo Wealth and Asset Management, and Hemant Daga, the co-founder and CEO of Neo Asset Management. Chheda was previously a founding member of True North's private credit strategy and also held positions at Piramal Capital and Fairwinds Private Equity. Neo Asset Management's special situation strategy fund aims to raise Rs 2,000 crore.

Stakeboat Capital set to enter private credit, hires former Sundaram Alt exec

VCCircle

VCCircle · 1y ago

Stakeboat Capital set to enter private credit, hires former Sundaram Alt exec

Mid-market private equity firm Stakeboat Capital is expanding its portfolio by entering the private credit asset class. The firm has hired a former fund manager from Sundaram Alternative Assets to lead its new private credit platform. Stakeboat Capital, based in Bengaluru, is taking this strategic step under the leadership of managing partner Chandrasekhar Kandasamy.

ASK Asset & Wealth Management ropes in top exec from Nippon Life

VCCircle

VCCircle · 1y ago

ASK Asset & Wealth Management ropes in top exec from Nippon Life

ASK Asset & Wealth Management, supported by Blackstone, has hired Prateek Jain as Director of Finance. Jain, who formerly served as CFO of Nippon Life India Asset Management, brings over 27 years of experience in the finance sector, specialising in asset management companies. This appointment comes after recent key hires at ASK, including Vaibhav Sanghavi as CEO of ASK Hedge Solutions, Shantanu Sahai as Senior Managing Partner for Private Credit, and Jayant Jain as Chief Risk Officer. ASK's real estate fund is set to invest INR 120 crore in a luxury residential project in Gurugram.

UTI Alternatives appoints former LGT Wealth exec as chief business officer

VCCircle

VCCircle · 8m ago

UTI Alternatives appoints former LGT Wealth exec as chief business officer

UTI Alternatives, a subsidiary of UTI Asset Management Company, has announced the appointment of Sreejit Pillai as its Chief Business Officer. Pillai brings with him over 18 years of experience in private banking and will be responsible for leading fundraising efforts and managing investor relationships in India. UTI Alternatives focuses on private market investment strategies across multiple asset classes, including credit, real estate, distress assets, and structured equity. The company's parent, UTI AMC, has assets under management worth $187 billion.

Axis AMC raises $86 mn for second private credit fund, undershoots target

VCCircle

VCCircle · 2m ago

Axis AMC raises $86 mn for second private credit fund, undershoots target

Axis Asset Management Company (Axis AMC) has raised $86 million for its second private credit fund, Axis Structured Credit AIF II, falling short of the Rs 1,250-crore hard cap. Registered in January 2023, this Category-II alternative investment fund secured commitments from institutional investors, insurance companies, and high-net-worth individuals. With 65% of the fund already deployed, Axis AMC aims for full deployment by July 2024, planning a follow-on fund thereafter. This marks the firm's second private credit venture.

Plan to launch second debt fund, set up NBFC: Lighthouse Canton’s Sanket Sinha

VCCircle

VCCircle · 1y ago

Plan to launch second debt fund, set up NBFC: Lighthouse Canton’s Sanket Sinha

Singapore-based asset management firm, Lighthouse Canton, is planning to launch a second debt fund and set up a non-banking financial company (NBFC). The firm has recently closed its first debt fund and will now focus on launching a second fund for making credit investments. Additionally, Lighthouse Canton plans to establish an equity investment vehicle for investing in top-performing companies from its maiden venture capital fund's portfolio.

Multiples PE enters private credit, ropes in former Deutsche Bank exec

VCCircle

VCCircle · 9m ago

Multiples PE enters private credit, ropes in former Deutsche Bank exec

Multiples Alternate Asset Management, a private equity firm based in Mumbai, has entered the private credit market. The firm has hired former Deutsche Bank executive Rahul Chawla as managing director of its credit strategy. Chawla brings over 25 years of experience in financing for financial sponsors. This move by Multiples comes as the firm considers a continuation fund of around $300 million to retain its stake in Vastu Housing Finance and APAC Financial Services Ltd. The firm's portfolio includes companies like Moengage, Licious, Acko, and Veritas Finance.

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