Vivriti Asset Management has become the latest India-based investment firm to tap the booming direct lending market by raising INR17bn ($204m) for its three private credit funds, according to a report by Bloomberg.
The report quotes Chief Investment Officer Soumendra Ghosh as revealing in an interview that the Chennai-based firm has deployed INR14bn in sectors including airports, clean energy, roads, financial services and logistics.
The funds, Vivriti Wealth Optimizer Fund, Vivriti Emerging Corporate Bond Fund and Vivriti Alpha Debt Fund – Enhanced, have attracted support from more than 570 investors, are targeting a pre-tax, annual rupee return of 11% to 14%, he said.
Founded in 2019, Vivriti Asset provides debt financing to domestic mid-sized firms that typically have revenues of NIR2.5bn to NIR50bn, according to Ghosh
