Sundaram Alternates launches credit opportunities fund

Chennai-based Sundaram Alternates , a wholly-owned subsidiary of Sundaram Asset Management Company and Sundaram Finance, has launched the Performing Credit Opportunities Fund (PCOF) - Series I.The will focus on companies in MSME, SME, fintech, manufacturing, and services segments, with revenue ranging from INR 250-5,000 crore. It will follow a five-year tenure with a two-year extension option.PCOF-Series I aims for portfolio-level returns of 13-16% Internal Rate of Return (IRR), offering investors net return of 12-13%. The fund will provide quarterly income distributions over 4-4.5 years.