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JSW Cement backer Synergy Capital hits first close of $1 bn private credit fund

VCCircle

VCCircle · 3m ago

JSW Cement backer Synergy Capital hits first close of $1 bn private credit fund

Synergy Capital, led by Sudhir Maheshwari, marked the first close of its Asia-focused private credit fund, raising $715 million towards a $1 billion target. The Dubai-based firm, specializing in private equity, credit, and special situations, has prior success with a $1.2 billion deployment and $850 million through nine exits. The new fund will focus on industrial and infrastructure assets, aiming to deploy $400 million by year-end, including acquisitions from India’s GMR Group.

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InCred Alternative hits first close of second private credit fund

VCCircle

VCCircle · 1y ago

InCred Alternative hits first close of second private credit fund

InCred Alternative Investments, the alternative asset management unit of InCred Capital, has achieved the first close of its second private credit fund. This milestone comes shortly after the successful fundraising of its maiden fund last year. The Mumbai-based alternative asset manager is expanding its reach in the private credit space.

JSW Cement gets SEBI nod to garner Rs 4,000 Cr via IPO

YourStory

YourStory · 6m ago

JSW Cement gets SEBI nod to garner Rs 4,000 Cr via IPO

JSW Cement, under the JSW Group, received SEBI's nod for a Rs 4,000 crore IPO, involving a fresh issue of Rs 2,000 crore and an Offer-for-Sale by stakeholders. Key sellers include AP Asia and Synergy Metals at Rs 937.5 crore each, and SBI at Rs 125 crore. Proceeds will fund a new Rajasthan unit and debt repayment. By FY24, JSW Cement's revenue was Rs 6,028.10 crore with liabilities of Rs 8,933.42 crore and a 20.60 MTPA capacity.

Ascertis Credit hits final close of new India-focused fund, tops target

VCCircle

VCCircle · 6m ago

Ascertis Credit hits final close of new India-focused fund, tops target

Ascertis Credit, previously BPEA Credit, successfully concluded fundraising for its India-focused private credit fund, surpassing its initial target and partly utilizing its greenshoe option. The rupee-denominated fund, named Ascertis Credit Select Short Term Income Fund – I, reached its final close.

Avendus hits halfway mark in first close for third private credit fund

VCCircle

VCCircle · 3m ago

Avendus hits halfway mark in first close for third private credit fund

Avendus PE Investment Advisors has reached the halfway point in the first close of its third private credit fund, raising about Rs 1,000 crore out of a Rs 2,000 crore target, with a greenshoe option for an equal additional amount. The fund, Avendus Structured Credit Fund III, focuses on growth-stage companies with differentiated business models, aiming for transactions ranging from Rs 200-500 crore and an IRR of 16-18%. The fund is sector-agnostic and seeks institutional investors.

InCred Alternative Hits First Close Of Maiden PE Fund

Inc42 · 1y ago

InCred Alternative Hits First Close Of Maiden PE Fund

InCred Alternative Investments, the alternative asset management unit of InCred Capital, has announced the first close of its maiden private equity fund, InCred Growth Partners Fund – I (IGPF – I). The fund has gathered capital commitments of over INR 330 Cr and aims to reach a final close at INR 500 Cr. IGPF – I will focus on investing in growth and late-stage companies in consumer, financial services, and enterprise or technology sectors, with an average ticket size of INR 40-80 Cr. The successful first close reflects the returning confidence in the private equity space.

Anicut Capital hits final close of first pre-IPO equity vehicle

VCCircle

VCCircle · 1y ago

Anicut Capital hits final close of first pre-IPO equity vehicle

Chennai-based investor Anicut Capital has announced the final close of its first pre-IPO equity fund. The firm, known for its focus on the credit space, has completed fundraising for the Anicut Equity Continuum, while also currently raising capital for its third credit fund.

Aditya Birla Sun Life AMC floats second private credit fund, targets first close by March

VCCircle

VCCircle · 6m ago

Aditya Birla Sun Life AMC floats second private credit fund, targets first close by March

Aditya Birla Sun Life AMC Ltd has launched its second private credit fund, focusing on structured credit. This new initiative follows the company's introduction of its inaugural performing private credit fund in August of the previous year. The asset management firm aims to achieve the first close of this latest fund by March. It continues to expand its portfolio of credit-focused products under the leadership of Managing Director and CEO, A Balasubramanian.

Avendus floats third private credit fund, targets first close next month

VCCircle

VCCircle · 7m ago

Avendus floats third private credit fund, targets first close next month

Avendus PE Investment Advisors, part of the Avendus Group, is raising its third private credit fund, targeting the first close as soon as next month. The Mumbai-based asset manager, which launched the first private credit fund in 2017, aims to further expand its financial offerings with this new initiative. Anshul Jain, executive director of structured credit, is involved in spearheading these efforts. Details on the investment focus and target corpus have not been disclosed.

NIIF plans maiden private credit fund, targets $2-bn corpus

VCCircle

VCCircle · 5m ago

NIIF plans maiden private credit fund, targets $2-bn corpus

The National Investment and Infrastructure Fund (NIIF) plans to raise $2 billion for its first private credit fund, making it India's largest. The NIIF, backed by the Indian government and international investors like Canada's Ontario Teachers' Pension Plan and Singapore's Temasek, aims to channel international capital into India. The fund will focus on performing credit and large co-investments. NIIF manages four other funds, including the Master Fund and Strategic Opportunities Fund.

InvAscent hits first close for new healthcare fund; strikes back-to-back PE deal

VCCircle

VCCircle · 1y ago

InvAscent hits first close for new healthcare fund; strikes back-to-back PE deal

InvAscent, a healthcare-focused private equity firm, has achieved its first close for its new fund and made an investment in an active pharmaceutical ingredients maker. The firm launched its fourth PE fund this year with a target of raising $300 million to $400 million.

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