Aikyam Capital Group, an alternative investment firm focused on stressed assets in India, has achieved the first close of its maiden private credit fund with investor commitments of Rs 205 crore (around $22.3 million).
The category II alternative investment fund is managed by Aikyam Capital Management LLP and structured under the Aikyam Capital Trust. The fund has a target corpus of Rs 300 crore with a green shoe option of Rs 100 crore, which could take the total size to Rs 400 crore.
The fund follows a private credit strategy and plans to provide structured funding solutions to businesses while aiming to generate stable risk-adjusted returns for investors. Demand for private credit has been rising in India as companies seek alternative funding options beyond traditional bank loans.
Venkatasubramaniam Maruthai, fund manager and CEO for stressed assets at Aikyam Capital Group, said the first close of the private credit fund reflects strong investor confidence in the firm’s investment platform and strategy.
This marks the second fund launched by Aikyam Capital Group within a year.
The firm earlier launched a category I special situation fund named Aikyam Capital Stressed Assets Fund I, and last year, it announced its first close with Rs 105 crore in investor commitments.
Aikyam Capital Group operates across several financial services segments, including institutional broking and clearing, investment banking, stressed asset management, asset management and capital markets solutions.
The firm works with corporates, institutional investors and global market participants.
Through its asset management arm, the group also offers the Aikyam India Discovery Fund, a Category III AIF based in GIFT City that allows global investors to access Indian equity markets.
