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True North’s key private credit executive to step down

VCCircle

VCCircle · 1y ago

True North’s key private credit executive to step down

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.

Related News

True North hires former Investec exec for private credit vertical

VCCircle

VCCircle · 10m ago

True North hires former Investec exec for private credit vertical

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.

In Charts: How True North’s LP mix changed through the years

VCCircle

VCCircle · 7m ago

In Charts: How True North’s LP mix changed through the years

True North, a prominent Indian private equity firm, has witnessed significant changes in its investor base across its six funds raised over the past 25 years. As the firm gears up to raise its seventh fund, it has increasingly relied on offshore limited partners (LPs) while reducing its dependence on domestic LPs. This shift reflects True North's evolving fundraising strategy and its ability to attract international investors.

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.

True North wraps up fundraising for maiden private credit vehicle

VCCircle

VCCircle · 1y ago

True North wraps up fundraising for maiden private credit vehicle

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.

True North-backed domestic NBFC adds new investor to cap table

VCCircle

VCCircle · 1y ago

True North-backed domestic NBFC adds new investor to cap table

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.

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.

Former InCred, Kotak execs’ new venture Saarathi Finance gets PE backing

VCCircle

VCCircle · 4m ago

Former InCred, Kotak execs’ new venture Saarathi Finance gets PE backing

Saarathi Finance and Credit Pvt. Ltd, a non-banking finance company founded by former executives of InCred Group and Kotak Mahindra Bank, received its first round of institutional funding from a private equity firm. The Mumbai-based startup was established by former InCred CFO Vivek Bansal and an ex-Kotak Mahindra Bank executive. This funding marks a significant step in Saarathi's journey to build its financial services offerings.

Private equity firm True North sees another top executive movement

VCCircle

VCCircle · 9m ago

Private equity firm True North sees another top executive movement

True North, a private equity firm based in Mumbai, has experienced another executive departure. The firm, known for its investments in companies like Niva Bupa and Biocon Biologics, is currently in the process of raising a new private equity fund.

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.

Morgan Stanley's Chairman James Gorman to step down after transforming the bank

Money Control

Money Control · 1y ago

Morgan Stanley's Chairman James Gorman to step down after transforming the bank

James Gorman, the executive chairman of Morgan Stanley, is set to step down at the end of the year. Gorman, who served as CEO for 14 years, played a significant role in transforming the bank into a formidable wealth management powerhouse. His successor, Ted Pick, has already undergone a successful transition, and key executives Andy Saperstein and Dan Simkowitz have been retained. This follows recent succession plan updates from JPMorgan CEO Jamie Dimon.

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