Investec Capital raises Rs 850 crore, attains third close of AIF

MUMBAI: Investec Capital (India) raised Rs 850 crore, closing its third tranche of the alternative investment fund (AIF), christened as Emerging India Credit Opportunities Fund I, the company said in a release. Over 340 investors bet their money on the fund.

The fund has been making secured credit investments in India focused on mid-market businesses. The key focus is on companies with strong promoter pedigree, corporate governance and robust financial performance.
EICOF – I has already deployed 85 per cent of the proceeds in secured bonds.


“The macro outlook for some of the mainstream asset classes across debt and equity has changed significantly over the last few weeks,” said Piyush Gupta, Head of Private Credit, Investec Capital. We continue to receive strong investor interest as well as find attractive deployment opportunities for our strategy which is well-positioned in such an environment.”

EICOF – I was set up as a Category II Alternative Investment Fund registered with the Securities and Exchange Board of India, managed by Investec Capital. Investec has been underwriting Indian mid-market private credit since 2013-14.

Structured credit market is particularly attractive now after the IL&FS liquidity squeeze, because of which many wholesale NBFCs had to retract from the mid-market lending space, the company said.