ABSL Asset Management Targets USD 300 Million with New Private Credit Fund

Aditya Birla Sun Life Asset Management Company is set to raise USD 300 million through a new private credit fund aimed at foreign investors. The 'India Yield Advantage Fund' will target a 20% return by lending to Indian firms. Additionally, ABSL plans to raise Rs 2,500 crore domestically.

Aditya Birla Sun Life Asset Management Co. (ABSL AMC) is seeking to secure USD 300 million from overseas investors through a new private credit fund, a company executive announced on Tuesday.

The upcoming fund, named 'India Yield Advantage Fund', is set to launch post-Diwali and will focus on both performing credit and special situation opportunities. It aims to provide investors with a 20% annual return.

Additionally, ABSL AMC is working towards raising Rs 2,500 crore from domestic investors through its ABSL Structured Opportunities Fund Series 2, targeting returns over 15%.