BPEA credit raises Rs 375 cr in re fund

Private credit manager BPEA Credit made the first close of its latest rupee fund, BPEA Credit Select Short Term Income Fund-I (SSTIF-I), with a targetsize of ₹750 crore and a green shoe option of ₹750 crore. The fund has raised about ₹ 375 crore for the first closure, people aware of the development said.

The fund targets 10-12 investments in areas of manufacturing, engineering services and other infra-linked sectors. "The fund's yield profile is different from our previous funds, as the investment tenure is 2-3 years," said Kanchan Jain, head of BPEA Credit Group. In 11 years since its inception, BPEA Credit has raised three funds and invested over $1.1 billion across multiple sectors. Its investment focus is on Asia ex-China, with an emphasis on India and Southeast Asia.

The SSTIF-I fund was established in direct response to market feedback, recognising the need for a stable, shorter-term investment vehicle with regular income distribution, the PE firm said.