The Category II alternative investment fund, InCred Special Opportunities Fund-I, drew commitments from domestic family offices, ultra-high-net-worth individuals and offshore investors. With this close, the firm’s total private credit assets under management have crossed Rs 4,000 crore.
About 75% of the fund has already been deployed across sectors including automobiles, power, oil and gas, and hospitality, targeting old economy-businesses with tangible asset backing and predictable cash flows.
Many private credit funds have raised money in as this space is expanding with non-bank lenders and alternative managers stepping in to bridge funding gaps left by banks and capital market volatility. Deal flow has increasingly skewed toward structured credit and special situations, particularly in asset-heavy sectors.
“India’s private credit market is at an early but decisive stage,” said Saurabh Jhalaria, chief investment officer for private credit at InCred Alternatives, citing a large supply-demand mismatch and attractive risk-adjusted returns compared with developed markets.
“Still early days for private credit in India, which is exactly why the opportunity is so exciting,” said Bhupinder Singh founder InCred.
Launched in 2022, InCred Alternatives has expanded its private credit across performing credit and special situations strategies.
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