Sundaram Alternates, the alternative investment arm of the Sundaram Finance Group, said Monday it has raised Rs 1,000 crore ($110 million) for its fifth real estate private credit fund.
The SA Real Estate Credit Fund V was launched in October 2025 and aims to hit the final close by March this year with a total corpus of Rs 1,500-2,000 crore, the company said in a statement.
The fund has received commitments from a diversified investor base comprising insurance companies, family offices, corporate treasuries, and ultra-high-net-worth investors. The capital pool also includes a sponsor commitment from the Sundaram Finance Group.
“Crossing Rs 1,000 crore within three months reflects the confidence that investors place in our underwriting discipline and risk framework… As the fundraise progresses toward its final close, our focus remains on disciplined capital deployment, capital protection, and building long-term investor relationships,” said Karthik Athreya, managing director, Sundaram Alternates.
The fund focuses on senior secured lending to brownfield, cash-generating residential projects. The company said it aims to prioritise capital protection and manage downside risk through conservative loan-to-value structures and collateral coverage.
Sundaram Alternates has raised over Rs 3,800 crore across five real estate credit funds. It claims to have delivered an internal rate of return (IRR) in the range of 18-19%. It has deployed Rs 4,140 crore across 73 deals with an average contracted IRR of 19.1%. It says it has exited 34 deals for Rs 1,829 crore with an average exit IRR of 20.4%.
Sundaram Alternates is a subsidiary of Sundaram Asset Management Company Ltd, the mutual fund arm of Sundaram Finance Ltd. It serves high net-worth individuals, family offices, and institutional investors through offerings spanning alternative investment funds, portfolio management services, and customised managed accounts across private credit, listed equities, and liquid fixed income strategies. Overall, it manages approximately Rs 9,000 crore in assets across private credit, liquid fixed income, and bespoke equity portfolios.
