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Bajaj Finserv to raise $1-B for alternative investment platform

Economic Times  

Mumbai-based Bajaj Finserv's alternative investment arm, Bajaj Alternate Investment Management, plans to raise USD 1 Billion for its new platform. This initiative marks an expansion beyond the group's existing lending, mutual funds, and insurance operations into non-traditional asset classes.The platform will encompass four verticals: private equity/venture capital, liquid alternatives, listed equity, and real estate. The firm aims to raise INR 1,500-2,000 crore for each strategy over the next 18-24 months, with capital deployment slated to begin in the first quarter of the next financial year. Strategies include targeting better risk-adjusted returns than fixed income in liquid alternatives and seeking at least 3 percentage points of consistent outperformance against indices like the BSE 200 and NSE 500 for listed equity.The platform will be managed by a 40-member team. The firm intends to engage investors following the completion of internal preparations. Sponsor commitment to the platform is projected to exceed 20%.