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Franklin Templeton marks first close of maiden India credit fund

VCCircle

VCCircle · 4m ago

Franklin Templeton marks first close of maiden India credit fund

Franklin Templeton’s alternative investment arm has announced the first close of its maiden India credit fund, Franklin India Credit AIF – Scheme I, raising Rs 205 crore ($24 million) towards a target corpus of Rs 1,000 crore and an additional Rs 2,000 crore greenshoe option. The fund aims for a 12-13% internal rate of return, investing in secured debt securities through instruments like mezzanine debt, targeting primarily financial services sector companies.

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Brookfield-controlled Oaktree opens second office in India, hires Franklin Templeton exec

VCCircle

VCCircle · 5m ago

Brookfield-controlled Oaktree opens second office in India, hires Franklin Templeton exec

Oaktree Capital Management, controlled by Brookfield Asset Management, has expanded in India by opening a new office in Hyderabad's HITEC City. The firm appointed Ajay Maddali, formerly with Franklin Templeton, as HR director. This marks Oaktree's second Indian office, following Mumbai, and is part of its global network spanning 22 cities. The move aims to enhance employee development and service quality. Since 2018, Oaktree has invested $4 billion in India's private credit market.

Franklin Templeton turns toward private investing as mutual-fund biz shrinks

Livemint

Livemint · 1y ago

Franklin Templeton turns toward private investing as mutual-fund biz shrinks

Franklin Templeton, a well-known asset manager, has been making moves into private markets in recent years. The company, traditionally focused on mutual funds, has acquired several private credit and real estate investment firms, aiming to tap into the growing demand for alternative assets. As traditional asset managers face challenges due to the popularity of passive investment options, diversifying into private markets allows Franklin Templeton to access a wider pool of investors. While the shift comes with its own set of challenges, the company believes it can leverage its expertise and distribution capabilities to succeed in this new direction.

InCred marks first close of maiden PE fund

VCCircle

VCCircle · 1y ago

InCred marks first close of maiden PE fund

InCred Alternatives Investment, a subsidiary of InCred Group, has achieved the first close of its debut private equity fund. Named InCred Growth Partners Fund-I, the fund aims to raise approximately Rs 500 crore and diversify its portfolio. This marks an important milestone for the firm as it expands its investment strategy beyond its existing offerings.

Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra

Inc42 · 1m ago

Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra

Varthana, an education-focused NBFC, raised INR 159 crore in debt from BlueEarth Capital, Franklin Templeton Alternative Investments, and responsAbility. The funding aims to expand affordable schools and enhance sustainable infrastructure across India. The investment includes non-convertible debentures worth INR 65 crore from responsAbility, INR 69 crore in external commercial borrowings from BlueEarth Capital, and INR 25 crore from Franklin Templeton. Varthana's FY24 net profit increased nearly sixfold to INR 30.9 crore.

Kotak AMC marks first close of maiden performing credit fund

VCCircle

VCCircle · 3m ago

Kotak AMC marks first close of maiden performing credit fund

Kotak Mahindra Asset Management Company announced the first close of its Kotak Credit Opportunities Fund at Rs 1,200 crore, targeting a hard cap of Rs 2,000 crore. The fund aims to invest in performing credit opportunities with stable cash flows in emerging companies. It is a Category-II AIF, registered with SEBI, focusing on sector-agnostic investments. The fund is backed by high-net-worth individuals, family offices, corporate treasuries, and institutional investors.

Saudi's Jada Fund of Funds strikes maiden venture credit bet in American fund

VCCircle

VCCircle · 1y ago

Saudi's Jada Fund of Funds strikes maiden venture credit bet in American fund

Jada Fund of Funds, backed by Saudi Arabia's Public Investment Fund, has made its first venture debt investment in a US-based fund that provides specialized debt solutions for tech entrepreneurs. This marks Jada's second foray into the private credit space and its second limited partner-style bet of the year.

Kirloskar Group-backed fund manager floats maiden realty fund

VCCircle

VCCircle · 11m ago

Kirloskar Group-backed fund manager floats maiden realty fund

Arka Investment Advisory Services, backed by the Kirloskar Group, has launched its first real estate fund in collaboration with a Pune-based developer. This comes after the successful launch of their private credit fund last year. Arka Investment Advisory Services is a real estate asset manager, and this new fund marks an important milestone for the company in expanding its investment offerings in the realty sector.

True North raises ₹1,000 crore towards maiden credit fund

Livemint

Livemint · 1y ago

True North raises ₹1,000 crore towards maiden credit fund

Homegrown private equity firm True North has raised ₹1,000 crore for its first credit fund, targeting a 15-18% internal rate of return. The capital was raised from Indian ultra-high net worth individuals and family offices. The firm plans to deploy the capital over the next five years and expects to close the fund at around ₹1,300-1,400 crore by December. True North has previously focused on private equity investments and sees private credit as a natural extension. The credit fund aims to bridge supply-demand gaps for middle-market companies, providing capital solutions for shorter tenures.

Prabhudas Lilladher rolls out maiden private credit fund, sets sight on first close

VCCircle

VCCircle · 3m ago

Prabhudas Lilladher rolls out maiden private credit fund, sets sight on first close

Prabhudas Lilladher’s asset management arm, PL Capital, has launched its first private credit fund, aiming for an initial close within a couple of months. The PL Capital Performing Credit Fund targets a corpus of Rs 500 crore, with a greenshoe option of an additional equal amount. Registered with SEBI as a Category-II alternative investment fund, it focuses on secured debt investments across sectors, excluding real estate, appealing to high-net-worth individuals and institutional investors seeking diversification and risk-adjusted returns.

Saudi Arabia's Jada backs US fund in maiden venture debt LP bet

VCCircle

VCCircle · 1y ago

Saudi Arabia's Jada backs US fund in maiden venture debt LP bet

Saudi Arabia's Jada Fund of Funds, supported by the Public Investment Fund (PIF), has made its first venture debt investment in a US-based fund that provides debt solutions to tech entrepreneurs. This move marks Jada's second investment in the private credit sector and its second limited partner-style bet this year. The fund aims to support innovation and technology advancements by providing financing options to startups and other tech-focused companies.

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