True North, an India headquartered private equity fund has raised $120m for a private credit fund, according to a report by Reuters.
The report noted that the company plans to do deals ranging from 750 million rupees to 2 billion rupees with mid-size companies, aiming for a return of 15%-18%, and that the the fund raise comes at a time when a growing number of Indian investors are expanding their private credit business, in a move to fill a void left by banks and non-bank lenders and mirroring a pick-up in activity across Asia.
True North set up its platform in 2022, and aims to close a funding deal by the end of this year, the report added.
