Vivriti Asset Management Targets First Close of Rs 2,500 Cr Private Credit Fund This Quarter

Vivriti Asset Management is aiming to achieve the first close of its new Rs 2,500 Cr private credit fund, Vintage IV, later this quarter. The fund will focus on providing credit to mid-market companies across different business sectors and financing needs.

Soumendra Ghosh, Chief Investment Officer at Vivriti Asset Management, said the company expects the first close later this quarter. He added that the fund plans to make at least 20-25 investments during its lifetime.

The company has not yet shared the target amount it plans to raise at the first close.

Vivriti’s Fourth Private Credit Fund

Vintage IV will have a target commitment of Rs 2,500 Cr, along with an additional greenshoe option that could allow the fund to raise more capital.

The fund will be raised under the company’s Diversified Bond Fund III strategy. It will invest in mid-market businesses through different financing structures, supporting companies with varied funding requirements.

Through this fund, Vivriti Asset Management aims to build a diversified portfolio while expanding its private credit investments.

Vintage II Fund Completes Its Investment Cycle

The new fund comes as Vivriti Asset Management completes the life cycle of its Vintage II funds, launched in early 2022. These funds raised Rs 1,700 Cr from institutional investors, family offices and high-net-worth individuals.

With Vintage IV, the company is preparing for its next phase of private credit investments, targeting mid-market businesses that need funding beyond traditional financing options.

The planned first close this quarter will be an important step towards meeting the fund’s overall fundraising target and beginning its investment journey.

Key Numbers

• Rs 2,500 Cr: Target commitment for Vintage IV, plus a greenshoe option
• 20-25 investments: Expected over the fund’s lifetime
• Rs 1,700 crore: Raised by the Vintage II funds launched in 2022