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India Credit Opportunities Fund I|l
(ICOF III)

A SEBI registered Category II Alternative Investment Fund focused on delivering regular income through disciplined credit investing.

 

The fund targets opportunities where risk can be actively structured, controlled, and priced, rather than passively assumed.

Our Edge

Where capital meets conviction.
Built to deliver enduring value.

Proven Track Record

Zero Credit Losses, timely exits and delivering consistent mid-teen returns

CARE AIF-1 Grading
(ICOF ll)

Highest rating for AIFs, underscoring robust processes and governance.

Early Mover Advantage

Amongst the first to institutionalize performing private credit funds in India’s market

Investor-Centric Design

Regular income distribution

Structuring Expertise

Bespoke solutions with covenant-heavy, senior secured positions

Our Investment Strategy

Research-led. Performance-focused.

Our investment strategy is rooted in disciplined research, rigorous analysis, and a long-term perspective. We focus on identifying high-quality opportunities across markets, balancing risk to build resilient portfolios.

Strong Promoter Pedigree

Behaviour-led credit assessment & business cycle resilient

Proven track record

Mid-market companies with no business model risk, companies with revenue of INR 400 cr+ and EBITDA of INR 100 cr+ | sectors with tailwinds & entry barriers

Preferred Sectors

Chemical, Pharma APIs, BFSI, Healthcare, EV Mobility, Auto Ancillaries, Industrials

Deal Structure & Security

Exclusive collateral structures. Legal enforceability of a security. Security cover of >2.0x ensured for holding company transactions

Return Drivers

Multisource return engine driven by coupon

Portfolio Approach

9-12 companies over the fund life. Sector diversification

Liquidity Framework

Clear exit path defines & religiously tracked

We Don’t Do

Poor governance/ wilful defaults. Deep distress or litigation centric trades. Real estate and pure trading businesses. Blind yield or pricing-led credit

Fund III Terms

Fund III Investment Blueprint

A structured investment framework based on extensive research – defining ICOF lll’s key parameters, return objectives, and disciplined approach.

Target corpus

₹1,000 Cr + ₹1,000 Cr Greenshoe

gross irr target

16% + p.a.

net irr target

~ 14.5% p.a.

tenure

5 years

Hurdle

10% p.a.

min investment

₹1 Cr

Income Distribution

Quarterly

Our Compliance Partners

Trusted compliance partners ensuring governance and regulatory integrity

Auditor

Tax Advisor

Custodian

India Credit Opportunities Fund I|l

Offers a disciplined approach to capturing India’s evolving credit opportunity.

Connect with our Investor Relations team to learn more