BPEA Credit nears final close of Rs 750 Cr short-term income fund, rebrands to Ascertis Credit

BPEA Credit, now rebranded as Ascertis Credit, is set for the final close of its Select Short Term Income Fund – I (SSTIF-I), targeting investments with relatively quick turnover and provides steady, predictable cash flows to investors.

The fund is targeting Rs 750 crore to invest in stable, short-term opportunities with regular income distributions. SSTIF-I achieved its first close in June 2024. Ascertis Credit has raised four funds to date and invested over a billion dollars in performing credit and is now planning a fifth fund, according to a statement.

Its Fund III announced final close in June 2022 at $600 million and claims to be one of the largest single-country performing credit funds raised in Asia.

Also Read

BPEA Credit launches Rs 750 Cr short-term income fund

“Our rebranding to Ascertis Credit reflects our commitment to growth, innovation and delivering superior value to our investors and portfolio companies. Performing credit in the high growth economies of India and SE Asia provides tremendous diversification benefits to investors coupled with attractive returns and strong liquidity, well insulated from market volatility and the risks of high valuations,” Kanchan Jain, Head – Ascertis Credit said.

In March, Veranda Learning Solutions Ltd raised Rs 425 crore by way of issuance of Non-Convertible Debentures (NCDs) from the then-called BPEA Investment Managers Private Limited (now called Ascertis Credit).

Similarly, digital lender mPokket raised Rs 500 crore in debt capital, including a green shoe option from the Singapore-based financial services firm.