At a time when investors have tightened their purse strings in doling out fresh equity capital, 360 ONE Asset Management, formerly known as IIFL Wealth & Asset Management, said that it has raised $258 million (Rs 2,130 crore) for its largest credit fund to date, exceeding its initial target of Rs 1,500 crore.
“The volatility in the public and private markets over the last few months has provided an impetus to the growth of the private credit market in India,” Aakash Desai, CIO & head of private credit, at 360 ONE Asset, told DealStreetAsia in an interview.
