Fund News
Modulus Alternatives launches third private credit fund targeting Rs.2,000-Cr
Mumbai-based Modulus Alternatives Investment Managers has launched its third private credit fund - The Modulus Credit Opportunities Fund III (MCOF III) - targeting a corpus of INR 2,000 crore, including a green-shoe option. It will focus on opportunities in the mid-market segment.The fund, a Category II Alternative Investment Fund, has a tenure of five years from first close and targets a gross internal rate of return of approximately 16% per annum. The investment strategy centers on senior-secured lending to mid-market companies across sectors including chemicals, healthcare, pharmaceuticals, industrials, clean energy, and auto ancillaries.The firm has built its track record on two previous funds that collectively deployed over INR 3,150 crore across 29 transactions. The company reported zero credit losses across its portfolio, with 18 successful exits returning over INR 1,900 crore to investors.Established in 2018, Modulus Alternatives is backed by the Centrum Group and Alok Agarwal, former CFO of Reliance Industries.
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