Northern Arc's diversified debt fund hits first close at over Rs 400 Cr
The 15th private credit fund from Northern Arc Investment Managers targets a Rs 1,500 crore corpus and a 16% XIRR, as its India Impact Fund matures after deploying Rs 1,398 crore.
Northern Arc Investment Managers' first close of its diversified debt fund exceeded Rs 400 crore from institutional, family office, ultra-high-net-worth and high-net-worth investors. The 15th private credit vehicle is a sector-neutral Category II Alternative Investment Fund targeting Rs 1,500 crore, with a greenshoe option expanding potential capacity to Rs 2,000 crore.
Rated AA (SO) by CareEdge Ratings, the fund aims for a 16% XIRR over five years. The announcement follows the maturity of the Northern Arc India Impact Fund, which utilized global capital for financial inclusion across India. Ashish Mehrotra, CEO of Northern Arc Capital, highlighted the continued investor interest in private credit and the company's experience in managing credit investments through various credit cycles.
Over a decade, Northern Arc Investment Managers has deployed over Rs 16,500 crore across 15 AIFs and two PMS offerings, serving more than 1,500 investors while maintaining returns at a weighted average XIRR of over 14.5%.
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