InCred wraps up fundraising for first pvt credit vehicle

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.

- Priyal Mahtta

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.