Private Equity

Fund News

Avendus seeks to raise $466-M for third private credit fund in India

MoneyControl   Avendus PE Investment Advisors  

Mumbai-based Avendus PE Investment Advisors is launching a third private credit fund, as it seeks to tap demand from investors for high-yielding debt in India. The firm aims to raise INR 4,000 crore (USD 466-M) through the fund, which it will invest in the debt of mid-sized businesses.Avendus’ latest fund will have a tenor of about seven years and is targeting a gross return of 16%-18% for its investors.Avendus’ first private credit fund launched in October 2017 gave investors a yield of 18%, while the second in January 2022 returned about 17%.