Vivriti Asset Management said on Tuesday it has launched two alternative investment funds (AIFs) – Alpha Debt Fund and Alpha Debt - Enhanced Fund.
The Indian asset manager said both the funds were SEBI-registered Category II close ended debt funds with a 3.5-year tenor.
The Alpha Debt Fund, which has a target of Rs 400 crore in assets under management, will invest in debt issued by operating companies and will target an annualised yield of 7.5% post tax, fees and expenses.
The fund is sector agnostic and aims for a median portfolio rating of A category, Vivriti Asset Management said.
The Alpha Debt - Enhanced Fund has a target size of Rs 250 crore and will invest in debt issued by high-growth enterprises. The fund is sector agnostic and aims for a median portfolio rating of BBB, the asset manager said.
Last week, Vivriti Asset Management made the final close of its maiden debt fund with commitments worth Rs 265 crore ($35.7 million). It received commitments from large global investors including insurance companies, global foundations, large corporate treasuries and bank treasuries.
Last month, Vivriti Asset Management partnered Swiss impact firm Enabling Qapital Ltd to invest up to Rs 375 crore ($51.4 million) in the United Nations’ sustainable development goals.
Vivriti Asset Management has raised commitments of over Rs 1,500 crore across its funds. It offers debt of Rs 25-75 crore to companies for a two-four year tenor.
The asset manager is a unit of non-bank lender Vivriti Capital Pvt Ltd, which builds on Vivriti group’s sectoral expertise to provide a stable and predictable risk-adjusted return on its fixed-income focused funds. It has operations in India.