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Founded in 2018, Modulus Alternatives has established a successful track record of investing in private credit opportunities. With an emphasis on capital protection and dynamic fund management that include active portfolio monitoring, the firm aims to continue delivering absolute value to its investors.
Figures as on December 31, 2024
Figures as on September 30, 2023
We launched our first private credit fund, Centrum Credit Opportunities Fund, in 2019 and have successfully completed 5 years of the investment period with 15 investments across sectors. CCOF is tracking mid-teen returns since inception with consistent quarterly distribution to investors.
Figures as on December 31, 2024
#₹750 cr + ₹500 cr green shoe option
*From final close
#₹750 cr + ₹500 cr green shoe option
*From final close
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Consumer Durables
Infrastructure
Pharmaceutical
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Infrastructure
Warehousing
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Power Transmission
Pharmaceutical
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Energy
BFSI
Chemicals
Fertilizers
BFSI
Consumer Durables
Infrastructure
Pharmaceutical
Steel
Fertilizers
Pharmaceutical
Steel
Fertilizers
Infrastructure
Warehousing
Power
Power Transmission
Pharmaceutical
Auto Ancillary
Auto Ancillary
Energy
Infrastructure
BFSI
Chemicals
Fertilizers
BFSI
Consumer Durables
Infrastructure
Pharmaceutical
Steel
Fertilizers
Infrastructure
Warehousing
Power
Power Transmission
Pharmaceutical
Auto Ancillary
Auto Ancillary
Energy
Infrastructure
BFSI
Chemicals
Fertilizers
BFSI
Consumer Durables
Infrastructure
Pharmaceutical
Steel
Fertilizers
Infrastructure
Warehousing
Power
Launched in 2019, Fund I was a closed-ended Category II AIF that invested INR 1,790 crore, through the Fund and other investors, across 15 investments in sectors such as healthcare & pharmaceuticals, consumer durables, specialty chemicals and industrials. The portfolio construct of the Fund primarily focused on senior secured operating company exposures with regular coupon-bearing investments.
Throughout its tenure, the Fund consistently delivered mid-teen returns while maintaining high credit quality and making regular income distributions to its investors. At maturity, the Fund achieved a Gross IRR of 17.01%, with a Median Investor IRR (pre-tax, post-expenses and carried interest) of 14.28%. The Distributed to Paid-In Capital (DPI) of Fund I was 1.50x, with Total Value to Paid-In (TVPI) at 1.52x.
Fund I’s success, despite challenges such as NBFC crisis and the COVID-19 pandemic, reaffirms our focus on active portfolio management.