InCred Asset Management Announces First Close Of Its Maiden Fund


InCred Asset Management, the wealth and asset management division of InCred Financial Services, has announced the first close of its debut credit fund, InCred Credit Opportunities Fund I (ICOF I), which is expected to raise approximately Rs 300 crore.

The total corpus of the category II alternative investment fund (AIF) is targeted at Rs 500 crore, with a green-shoe of another Rs 500 crore, according to a company statement.

The ICOF I’s final close, which will mark the launch of InCred’s Alternatives platform, is scheduled for mid-next year.

The fund received 60 per cent subscription from marquee family offices and high-net-worth individuals (HNIs) in the first close within three months of Sebi approval in August of this year.

According to the company, ICOF I is the first alternative offering from InCred Asset Management and will provide flexible secured debt financing to emerging corporations, as well as financial institutions and platforms.

Over the next 24-36 months, the fund is expected to make 20-25 investments, resulting in a portfolio with a 4-5 per cent allocation to each transaction.

InCred Asset Management’s current strategy portfolio includes multi-cap, healthcare, and India-manufacturing themed funds.

InCred Finance, founded in 2016 by Bhupinder Singh, is a tech-enabled lending institution with consumer, small business, and education lending models.

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