True North forays into private credit, raises Rs 1,000-Cr fund

Private Equity firm True North has forayed into private credit. The firm, which had set up a True North Private Credit fund in 2022, has already raised over INR 1,000 crore. It aims to close the fund by the end of the year. The fund will invest INR 75 crore per company by itself and INR 200 crore along with its co-investment pools. It targets an internal rate of returns between 15-18%.