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ASK Private Wealth has launched ASK Private Credit Fund, a Category II AIF. It is a closed-ended fund, with a tenure of five years and seeks to raise up to Rs 1,000 crore including the greenshoe option.
In a press release, Rajesh Saluja, CEO & Managing Director, ASK Private Wealth said, “India is in the initial phase of a new credit cycle fuelled by private sector investment on the back of corporate deleveraging that has taken place over the past five years within India Inc. This is further supported by robust economic activity across all major sectors driven by strong economic growth, government infrastructure spending and policy support, and a favourable demographic outlook. India’s status as a major manufacturing hub, driven by the China Plus One strategy, further fuels the demand for private credit.”
He added, “Our fund aims to bridge this gap, catering to rising demand and capitalizing on the growing private credit space in India.”
In another development, ASK Private Wealth appointed Shantanu Sahai as the Senior Managing Partner and Head of the Fund. Shantanu has two decades of experience and will lead the fund management.