Religare AMC to raise Rs 750 crore through close-ended debt fund

MUMBAI: Religare Global Asset Management, the alternate assets management platform of Religare Enterprises, is aiming to raise Rs 750 crore through a close-ended debt fund, a top company executive said. It recently concluded raising Rs 300 crore of the total corpus under round I and has started investing in midmarket space with some allocation to the real estate sector.

The sponsor, RGAM Investment Advisors that manages $18 billion alternate asset management platform of Religare, will be investing up to 25% of total fund corpus. Tenure of the debt fund will be three years with the option of two extensions of a year each.

“It's a sector agnostic fund looking for best opportunities. We are looking at investing in low- risk secured debt but still fetching high yields as we will originate and manage deals on our own,” said Kanchan Jain, CEO & principal managing partner, Religare Credit Advisors LLP.