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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.