Ascertis Credit, formerly known as BPEA Credit, on Tuesday announced the first close of its fourth fund (Fund IV), raising $520 million (around Rs 4,600 crore). This marks one of the largest-ever first closes for a private credit fund in India.
The fund, which targets a total corpus of $1 billion, has drawn a diverse mix of existing and new institutional investors, family offices, and high-net-worth individuals across global and Indian markets, the fund manager said.
“India is one of the largest and most exciting markets in Asia, and the focus on private credit as a strong asset class has grown substantially in recent times. This resounding response to our Fund IV is a defining moment for us — not only in terms of scale but also in the confidence from a diversified group of global and domestic investors.
This validates our position as a pre-eminent and scale player in the space, the trust placed in our disciplined investment approach, deep sector expertise, and proven ability to deliver resilient returns across market cycles. With Fund IV, we continue to scale our investment program, supporting the capital needs of high-growth corporates while creating consistent value for our investors,” said Kanchan Jain, Head at Ascertis Credit.
Fund IV will continue the firm’s long-standing strategy of offering customised, performing credit solutions to high-growth businesses across India and Singapore–Southeast Asia, it added.
The latest close follows the final close of the Ascertis Credit Select Short Term Income Fund – I (SSTIF Series – Fund I) earlier this year, which raised over 25% more than its initial target.
Ascertis Credit has deployed over $1.5 billion across its previous funds, building a strong track record in India’s performing credit space. With teams based in Mumbai, Delhi, and Singapore, the firm combines deep local origination with institutional execution capabilities.