BackReligare Credit Advisors achieves final close of Rs512 crore for its maiden debt fund
The fund, Religare Credit Opportunities Fund-Scheme I, aims to invest in secured corporate debt instruments
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Mumbai: Religare Credit Advisors Llp (RCAL), an originator and manager of private debt transactions for mid-market companies, on Monday announced the final close of its maiden debt fund of ₹ 512 crore, under its Religare Credit Opportunities Fund.
RCAL is an affiliate of Religare Global Asset Management (RGAM), a $20 billion asset management platform focused on alternative investments. RGAM is a subsidiary of Religare Enterprises Ltd.
“What makes this fund special is that it is part of a much larger picture globally where more and more promoters are relying on alternative pools of capital for various requirements. With the Indian economy slated to grow at more than 7%, the demand for such funding is substantial," said Kanchan Jain, chief executive officer and principal managing partner at Religare Credit Advisors.
“We have an experienced team, with experience of having invested in 29 transactions over the last 4 years totaling to ₹ 1,500 crore and 10 successful exits to date," she added.
The fund, Religare Credit Opportunities Fund-Scheme I, aims to invest in secured corporate debt instruments.
It is a 3-year, short-tenure fund, with quarterly distribution, and has already deployed 80% of the funds in debt investments.
RCAL has invested the funds in diversified sectors including agri-biz, textile, food and beverage and real estate. Within real estate, the fund has invested in debt to advanced stage and last mile residential projects in metros, such debt being serviced out of ring-fenced project cash flows and established receivable flows, the release said.
As of now, the fund has 12 investments.
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