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12.10.2023

Singapore’s RV Capital marks first close of India private credit fund

The Singapore-based alternative asset manager launched the India Credit “Plus” fund in June with a target corpus of ₹400 crore and a green-shoe option for a similar amount.

Singapore-based RV Capital Management’s India arm on Thursday announced the first close of its maiden performing private credit fund, having raised about a quarter of the target corpus. The alternative asset manager launched the India Credit “Plus” fund in June with a target corpus of ₹400 crore and a green-shoe option for a similar amount. “Performing credit” means lending to companies that are running their business on an ongoing basis, have a long track-record and are profitable at the Ebitda level.

For the first close milestone, the asset manager has raised about ₹100 crore in commitments from a mix of domestic and offshore investors including high- and ultra-high-net-worth individuals, and family offices. It aims to mark another fund close by next month, though it did not disclose the figure at which it will hit the milestone. It is aiming to raise about half of the target corpus by the end of the year, RV Capital said.

Read more: https://www.livemint.com/news/india/singapores-rv-capital-marks-first-close-of-india-private-credit-fund-11697101819488.html

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