360 ONE Asset Management (formerly known as IIFL Asset Management Limited) has raised Rs 2,130 crore for its fourth private credit fund, exceeding its initial target of Rs 1,500 crore.
This is the biggest private credit fund till date for the asset manager and is twice the size of its previous funds. The previous private credit fund was Rs 1,000 crore in size.
The fund witnessed participation from corporate treasuries, family offices, high net worth individuals (HNIs), and domestic financial institutions. With the closure of this fund, the AUM of the private credit strategy under 360 ONE Asset is inching close to $1 billion and it aims to achieve this milestone in FY24.
Source:
Economic Times
