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News on Medial
True North hires former Investec exec for private credit vertical
VCCircle
·
11m ago
Medial
Mumbai-based private equity firm True North has hired a former Investec executive as the managing director of its debt vertical. True North recently completed fundraising for its first private credit fund and launched its private credit operations in 2021. The firm aims to bolster its expertise in private credit and expand its presence in the market.
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True North’s key private credit executive to step down
VCCircle
·
1y ago
Medial
A key executive from True North's private credit vertical is reportedly stepping down. The executive, Kapil Singhal, joined True North in February 2021 after previously working for KKR & Co. True North launched its private credit vertical earlier this year.
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Neo Asset hires former True North exec Chheda to lead special situation strategy
VCCircle
·
1y ago
Medial
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.
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Stakeboat Capital set to enter private credit, hires former Sundaram Alt exec
VCCircle
·
1y ago
Medial
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.
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True North-backed domestic NBFC adds new investor to cap table
VCCircle
·
1y ago
Medial
A domestic non-banking financial company (NBFC), supported by True North, has secured additional funding from a venture capital firm based in Singapore. True North, a private equity firm, previously raised Rs 1,000 crore for its private credit fund. The NBFC has now attracted a new investor to its shareholder list.
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True North wraps up fundraising for maiden private credit vehicle
VCCircle
·
1y ago
Medial
True North has successfully completed fundraising for its first private credit fund after almost three years in the asset class. The private equity firm's inaugural private credit vehicle, which focuses on performing credit financing, reached its first fundraising milestone in November of last year.
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True North raises ₹1,000 crore towards maiden credit fund
Livemint
·
1y ago
Medial
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.
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Local institutions not playing meaningful role in India's private credit market: Investec's Gupta
VCCircle
·
1y ago
Medial
Investec's Piyush Gupta, head of credit markets in India, believes that local institutions are not playing a significant role in India's private credit market. He expects consolidation in the market as it continues to mature. Investec, having been in India for over 11 years, recently closed its second fund, focusing on providing private credit to Indian companies.
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Grapevine: True North plans an exit; Edelweiss Alts, CarDekho, Afcons in IPO news
VCCircle
·
10m ago
Medial
- True North considering complete exit from Shree Digvijay Cement Company - Edelweiss Alts, CarDekho, and Afcons in IPO news - True North exploring options to sell its stake in Shree Digvijay Cement Company - Private equity firm engaged advisors for the exit - True North currently holds a 54.83% stake in the company
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True North manages an exit from decade-old bet with likely sub-par returns
VCCircle
·
1y ago
Medial
Private equity firm True North recently made a strategic sale to exit an investment in an Indian company. This comes as True North has been reducing the target corpus of its seventh flagship fund and has sought multiple exits in the past year. True North is one of India's oldest private equity firms and has a history of successful exits.
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True North presses exit button on one of its single-biggest PE bets
VCCircle
·
1y ago
Medial
Private equity firm True North is making an exit from one of its single-biggest investments, a portfolio company that it had held for five years. True North has been active in monetization moves recently while also reducing the target corpus of its seventh flagship fund. This move comes as True North continues to make strategic moves in the Indian PE market.
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