BPEA Credit launches Rs 750 Cr short-term income fund

Asian private credit manager BPEA Credit has reached the first close of its Select Short Term Income Fund - I targeting Rs 750 crore, with a green shoe option for an additional Rs 750 crore.

The fund caters to the demand for stable, short-term investment opportunities with regular income distribution. It aims to support high-growth companies by offering tailored credit solutions focused on capital preservation and steady cash flow.

"The launch of this Fund is a testament to our ongoing dialogue with our investors and our dedication to meeting the evolving needs of the companies. We are proud to provide a vehicle that offers attractive stable returns with regular cash coupons, addressing the investor demand for a shorter term, fixed income investment options," Kanchan Jain, Head of BPEA Credit Group, said in a statement.

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"This fund is a natural extension of our solution capital approach, designed to offer customized credit solutions to established corporates, ensuring both growth and financial stability," Jain added.

BPEA is one of the largest independent alternative investment funds in Asia, with over $21 billion in assets under management. BPEA Credit is a performing private credit manager in Asia, providing growth capital to established mid-market companies.

BPEA Credit raised three funds before the current round, with the latest Fund III closing at $475 million in 2022.

Lending platform mPokket raised Rs 500 crore in debt capital, including a green shoe option, from BPEA Credit in in March this year. In the same month, Chennai-based education firm Veranda Learning raised Rs 425 crore in debt funding through non-convertible debentures from BPEA Investment Managers Private Limited.