Key Takeaways
- • Singapore-based fund manager Ascertis Credit Group has secured more than $700 million in commitments for its fourth private credit fund, Fund IV, according to The Economic Times, and is targeting $1 billion.
- • Fund IV targets mid-teens returns and has drawn interest from insurance companies, pension funds, development finance institutions and large family offices, per head of Ascertis Credit Group Kanchan Jain.
- • The fund has not yet reached its final close and has begun deploying capital, aiming to build a portfolio of 35-40 companies with ticket sizes varying by financing need.
- • Over 12 years since inception, Ascertis Credit has invested about $2 billion in portfolio companies across five funds, focused on Asia, especially India, Singapore and Southeast Asia, excluding China.
Summary
Singapore-based fund manager Ascertis Credit Group has secured more than $700 million in commitments for its fourth private credit fund, Fund IV, and is targeting a $1 billion final size, according to The Economic Times. The fund has not yet reached its final close as it continues to attract investors from existing and new global and domestic backers, the company told ET.
Kanchan Jain, head of Ascertis Credit Group, said Fund IV is targeting returns in the mid-teens. The fund has drawn interest from insurance companies, pension funds, development finance institutions and large family offices, among others.
Jain said the fund has begun deploying capital and has a healthy investment pipeline. The fund aims to build a portfolio of 35-40 companies. Ticket sizes will vary with the financing needs of individual businesses, and the strategy is to create a diversified portfolio of performing companies rather than concentrate on a particular transaction size. Jain said the fund can participate in transactions ranging from about 200 crore rupees to significantly larger deals, describing an active portfolio construction approach aimed at a granular underlying portfolio.
Over the 12 years since its inception, Ascertis Credit has invested about $2 billion in portfolio companies across multiple sectors through five funds. Its investment focus is on Asia, especially India, Singapore and Southeast Asia, and excludes China.
Kanchan Jain, head of Ascertis Credit Group, said Fund IV is targeting returns in the mid-teens. The fund has drawn interest from insurance companies, pension funds, development finance institutions and large family offices, among others.
Jain said the fund has begun deploying capital and has a healthy investment pipeline. The fund aims to build a portfolio of 35-40 companies. Ticket sizes will vary with the financing needs of individual businesses, and the strategy is to create a diversified portfolio of performing companies rather than concentrate on a particular transaction size. Jain said the fund can participate in transactions ranging from about 200 crore rupees to significantly larger deals, describing an active portfolio construction approach aimed at a granular underlying portfolio.
Over the 12 years since its inception, Ascertis Credit has invested about $2 billion in portfolio companies across multiple sectors through five funds. Its investment focus is on Asia, especially India, Singapore and Southeast Asia, and excludes China.
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