Alpha Alternatives raises Rs 2,100-Cr in first close of structured credit fund

Alternative assets investor Alpha Alternatives Group has raised INR 2,100 crore in the first close of its maiden structured credit fund. It will invest in an array of high-yield opportunities, including special situations, collateralized growth funding, and operating equity. The fresh capital commitment came primarily from anchor investors comprising India's largest family offices and ultra-high net worth individuals (UHNIs), with an average commitment of about INR 50 crore. The fundraise has exceeded the earlier estimated target corpus of INR 1,000 crore, which was later revised to INR 2,500 crore. The category-II alternative investment fund (AIF), which will provide credit solutions to medium and large enterprises, is sector agnostic, with deal sizes ranging between INR 100 crore and INR 400 crore. Alpha Alternatives was co-founded 10 years ago by financial services industry veteran Naresh Kothari.