ASK's wealth advisory division launches its inaugural private credit fund

ASK Private Wealth, the arm of ASK Group dedicated to wealth advisory and family office services, has embarked on a pioneering venture akin to the paths tread by Avendus and Vivriti. This new initiative involves the launch of their inaugural private credit fund, aiming to raise a substantial sum of Rs 1,000 crore. The fund's overarching objective is to extend credit to corporate entities operating within the realm of performing credit. A noteworthy addition to the ASK team is Shantanu Sahai, a former leader in the domain of debt at Nomura India. Sahai assumes the vital role of Senior Managing Partner and Head of the fund, bolstering ASK's cadre of experts.

Crucially, the fund has received the requisite regulatory approval from the Securities and Exchange Board of India, falling under the purview of Alternative Investment Fund (AIF) Category II. The ASK Private Credit Fund (PCF) is strategically oriented towards harnessing tailored opportunities inherent in credit markets. Regulatory shifts create these distinctive opportunities, tailored for borrowers seeking funding for non-traditional purposes. The fund's focus is directed towards sectors such as healthcare, consumer products, financial services, IT and ITES, manufacturing, specialty chemicals, and renewables—domains where private equity entities are notably active.

In order to stand out and address corporate governance concerns, the fund's approach entails zeroing in on credit prospects within established corporate entities or portfolio companies of well-regarded private equity funds. A marked distinction lies in the fund's propensity to work with mid-market companies that demonstrate profitability and rely on operational cash flows. This strategy ensures an optimally balanced risk-reward ratio, setting it apart from conventional loan investments and private equity routes. Overseeing the ASK Private Credit Fund is a team of accomplished investors with a collective experience spanning over 75 years in credit investing. The fund is structured as a closed-end entity, designed to span a duration of five years from its initial closure.

CEO and Managing Director of ASK Private Wealth, Rajesh Saluja, underscores the compelling demand for private credit in India. The nation's status as a pivotal manufacturing hub, coupled with the China Plus One strategy, burgeons this demand. Shantanu Sahai's inclusion as Senior Managing Partner bolsters ASK's capabilities, supported by his two decades of experience in nurturing similar businesses with globally acclaimed credit institutions. Sahai expresses his eagerness to join ASK Private Wealth at this opportune juncture. Armed with the team's extensive private credit domain expertise, they aim to address underserved businesses and bridge existing gaps.

In essence, ASK Private Wealth's bold entry into the sphere of private credit underscores its commitment to pioneering financial solutions. This commitment is seamlessly intertwined with an unwavering dedication to robust corporate governance principles and an innovative approach to credit investing.

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ASK's wealth advisory division launches its inaugural private credit fund

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