Ascertis Credit Secures First Close of $520 Mn Private Credit Fund

Ascertis Credit, earlier known as BPEA Credit, announced on Tuesday that it has closed the first round of its fourth fund, raising $520 million (around Rs 4,600 crore).

The fund aims to reach $1 billion and has already drawn interest from a wide range of investors — including existing and new institutional backers, family offices, and high-net-worth individuals from India and other global markets, Ascertis said in a statement.

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Ascertis said this is one of the largest first-close amounts ever raised by a private credit fund in India.

Investment firms usually begin deploying capital once they hit the first close. The new fund will follow the same strategy as earlier ones, offering credit to high-growth companies in India and Southeast Asia.

“India is one of the largest and most exciting markets in Asia and the focus on private credit as a strong asset class has grown substantially in recent times,” said Kanchan Jain, Head at Ascertis Credit.

This milestone comes after Ascertis Credit closed its Short Term Income Fund earlier this year, surpassing its target by more than 25%. Over the past 11 years, the firm has invested over $1.5 billion through its earlier funds. 

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Ascertis now manages five funds and has a 36-member team across Mumbai, Delhi, and Singapore, focusing on Asia outside of China.

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