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Vivriti Asset Management introduces ₹2,000-crore debt fund

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In Short:

Private credit fund manager Vivriti Asset Management has launched its third fund with a total corpus of ₹2,000 crore, and a green shoe option of ₹500 crore. The company aims to raise the full amount by the end of the year, with the first close expected by June. The fund invests in mid-market performing credit companies with potential returns of 14.5-15.5%.

Exciting News from Vivriti Asset Management!

Are you ready for some thrilling updates from Vivriti Asset Management? The private credit fund manager has just kicked off its third series of fund raising, aiming for a total corpus of ₹2,000 crore, including a green shoe option of ₹500 crore.

Strong Interest in Fundraising

According to senior officials, the first close with commitments of ₹250-300 crore is expected by the end of June, with the first deployment planned for early July. Co-founder and CIO at Vivriti, Soumendra Ghosh, mentioned, “We have just launched the fund and we have seen strong interest from LPs, naturally… people whose capital we’ve returned, they want to come back and it’s a compounding business.”

Quick Deployment and Full Corpus Raise

The full corpus is projected to be raised by the end of the calendar year with the green shoe portion expected in the last quarter of the fiscal year. Vivriti is already actively working on a pipeline of investee companies for fund deployment.

Successful Track Record

Since its inception in 2019, Vivriti has raised over ₹3,000 crore, with successful vintage raises in the past. The fund manager focuses on investing in mid-market performing credit companies with a potential return of 14.5-15.5 per cent at the gross level.

Commitment to Growth

CEO Vineet Sukumar highlighted that the investee companies have top lines ranging from ₹250 to 3000 crore, are profitable, well-banked with stable cash flows. In May, the asset manager celebrated the maturity and exit of its first private credit fund, Samarth Bond Fund, with a portfolio yield of 15.5 per cent.

Focus on Investee Companies

The funds provided by Vivriti are aimed at growing the investee company, rather than for a public offering or refinancing. Sukumar emphasized, “This has been our overall thesis in the funds we have run.”

About Vivriti Asset Management

Vivriti Asset Management is part of Vivriti Group, which manages assets of $1.3 billion across its lending and asset management businesses.

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