InCred Alternative Investment achieves Rs 300 Cr first close for ICOF II

InCred Alternative Investments, part of InCred Capital, has closed its second credit fund, InCred Credit Opportunities Fund-II (ICOF-II), with initial commitments exceeding Rs 300 crore from a diverse pool of large family offices, ultra-high-net-worth individuals (UHNWIs), and HNIs.

InCred has received commitments of Rs 1,000 crore for its private credit strategy across its two funds, InCred Credit Opportunities Fund-II (ICOF-I) and InCred Credit Opportunities Fund-III (ICOF-II).

Meanwhile, ICOF-II also secured a Rs 50 crore sponsor commitment.

"We have been among the leading players in the performing credit space and are proud of what we have been able to achieve with ICOF-I and now at the first closing of ICOF-II. The overwhelming response to ICOF II underscores the growing demand for alternative credit solutions in the Indian market," said, Saurabh Jhalaria, CIO - Alternative Credit Strategies at InCred Alternative Investments.

With a target corpus of Rs 750 crore, ICOF-II is a Category II closed-end alternative investment fund. It aims to generate risk-adjusted returns by providing secured credit solutions to emerging Indian companies and is expected to close by 2024.

"The fund's focus on high-quality, emerging corporates with attractive risk-reward profiles resonates well with investors seeking to capitalize on this exciting opportunity. With our deep understanding of the Indian credit landscape and proven track record in credit investing, we are confident that ICOF II will deliver superior returns to its investors," he added.

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ICOF-II offers growth financing to Indian businesses, offering investors a good risk-adjusted return over other fixed-income alternatives. It focuses on sectors like cleantech, B2B, healthcare, consumers, financial institutions and platforms, and industrials, building on the success of ICOF-I.

InCred Group is a financial services group comprising three businesses: InCred Finance, an innovative credit-focused NBFC; InCred Capital, an integrated institutional, wealth and asset management platform; and InCred Money, a retail investment distribution vertical.

Recently, it launched its first Category II alternative investment fund, InCred Growth Partners Fund-I. The fund aims to invest up to Rs 500 crore in private companies in consumer, financial, technology, and business services sectors, offering opportunities for high networth individuals, family offices, and institutional investors.