PE firm True North forays into private credit, raises Rs 1,000 crore fund
The business christened "True North Private Credit" will build on the capabilities by the firm over the last two decades. A favourable risk-reward equation and a good regulatory framework make private credit a robust business, the statement said.
![PE firm True North forays into private credit, raises Rs 1,000 crore fund](https://cdn.zeebiz.com/sites/default/files/2023/11/27/270439-still-life-dollar-coins-scale.jpg?im=FitAndFill=(1200,900))
Homegrown private equity fund True North on Monday announced a foray into private credit, joining a slew of other entities which have started dabbling in this space.
The firm said it had set up a fund in 2022, and has already raised over Rs 1,000 crore. It intends to close the fund by the end of the year, as per a statement.
The business christened "True North Private Credit" will build on the capabilities by the firm over the last two decades. A favourable risk-reward equation and a good regulatory framework make private credit a robust business, the statement said.
The business will offer agile capital solutions to well-governed and profitable enterprises and deliver superior, risk-adjusted returns to its investors, it said.
The fund, which bridges the supply-demand gaps for middle-market companies, will invest Rs 75 crore by itself into companies and Rs 200 crore along with its co-investment pools, as per the statement.
It is targeting an internal rate of returns between 15-18 per cent. Its managing partner Kapil Singhal said domestic institutions, family offices, high-net-worth individuals and wealth partners have supported the fund.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/markets/stocks/photo-gallery-this-tata-group-stock-turned-every-rs-10000-of-investment-into-rs-11300-in-just-a-week-investors-richer-by-42722-crore-rupees-any-guesses-share-market-news-304023](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307143-tradingpexels.jpg?itok=rw4R7EfH)
A Tata group stock just turned every Rs 10,000 of investment into Rs 11,300 in just a week, investors richer by Rs 42,722 crore; any guesses?
![https://www.zeebiz.com/markets/stocks/photo-gallery-large-cap-midcap-stocks-shares-to-buy-for-long-term-check-out-targets-nifty-sensex-303617](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/25/306716-stockks.jpg?itok=KJTrFUIK)
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-retirement-planning-budget-2024-nirmala-sitharaman-announcement-how-nps-rulebook-change-can-increase-corpus-income-and-monthly-pension-by-40-compound-return-303984](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307102-indian-currency-pixabay-take.jpg?itok=kN21EW-9)
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
![https://www.zeebiz.com/personal-finance/photo-gallery-senior-citizen-savings-scheme-scss-2024-interest-rate-calculator-post-office-how-to-get-inr-rs-50000-interest-retirement-planning-guaranteed-return-maturity-amount-small-savings-303930](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307042-fd-interest-file.jpg?itok=45ZbBRWM)
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
03:34 PM IST