Investec Capital, a subsidiary of U.K.-headquartered global financial services company Investec Bank plc, will set up a private credit alternative investment fund in India. The Emerging India Credit Opportunities Fund aims to raise up to $16 million and will typically target senior, secured credit investments in India-focused mid-market businesses with expertise in niche segments.
The fund has already made over half of its target from more than 200 family offices and wealthy investors, and expects to complete its second tranche soon.
The key focus is on companies with a strong operating history, promoter pedigree, and corporate governance track record. The fund will have a four-and-a-half-year tenor and will provide private credit solutions for various end uses including acquisition financing, stake buyouts, bridge financing, refinancing, growth capex, and more. The fund will be sector agnostic, barring the real estate space.
