Avendus PE Investment Advisors, the asset management arm of the Avendus Group, has raised over Rs. 500 crore in the first close of its structured credit fund II which has a target of garnering Rs 1,000 crore in corpus on completion.
Nilesh Dhedhi, the fund manager at Avendus Structured Credit Fund stated that this is the second fund with the first one having invested Rs 1,000 crore in nine companies since its launch in October 2017.
The structured credit fund is part of the Avendus Groups credit vertical which is also into debt syndication, and NBFC arm Avendus Finance.
Dhedhi added that the second fund was launched three months ago and has a green shoe option of Rs 500 crore to take the overall corpus to Rs 1,000 crore and will offer 16-18 per cent return to investors.
(With inputs from PTI)
