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InCred wraps up fundraising for first pvt credit vehicle
Mint Mumbai
|October 23, 2023
InCred Alternative Investments Pvt. Ltd, which marked the first close of its maiden private credit fund in November 2022, has hit the final close, a top executive said.
The InCred Credit Opportunities Fund-I (ICOF) had a target corpus of ₹500 crore and a greenshoe option for an equal amount. The fund house has made the final close at ₹660 crore now, even though it had expected to finish the process by mid-2023.
"A strong interest from investors, coupled with our ability to deploy money quickly and construct a portfolio that investors could look at, meant that we are closing the (credit) fund at ₹660 crore," Saurabh Jhalaria, chief investment officer-alternate credit strategies, InCred Alternative said.
The company marked the fund's first close in November at ₹300 crore.
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