Vivriti Asset Management (VAM), a leading Indian asset manager, today announced the final close of ‘Vivriti Short Term Bond Fund’, at INR 350 Crores.
Vivriti Short Term Bond Fund (VSTBF) is a SEBI-registered Category II Alternative Investment Fund. The fund aims to return investors’ capital on an annual basis and will be investing in debt issued by retail financial services entities with sound business models providing SME loans, microfinance, and consumer finance.
The fund has already deployed ~70 percent of its commitment across 8 investments during a time of record low-interest rates and has witnessed rating upgrades in its portfolio entities. It has raised commitments from marquee investors, including banks, insurance companies, leading corporates, family offices, and HNIs.
Mr. Venkatasubramanian Radhakrishnan, Managing Director and Chief Executive Officer at Infina Finance Private Limited said “Through our investment in VSTBF, we expect to benefit from Vivriti Team’s successful track record in lending to emerging NBFCs.”
Mr. Puneet Chaudhary, Head of New Segments, CMG – Institutional, of Aditya BIRLA Finance Limited said “I have been tracking Vivriti since its inception. The way the platform has come up and the way they delivered credit intermediation is amazing. We are delighted to invest through VAM as VSTBF offered us 250 bps higher than similar rated papers while offering us a fine balance of risk & reward managed by industry veterans. Kudos to the Team Vivriti.”
“Vivriti’s Short Term Bond Fund has invested in A or better-rated papers issued by operating companies with strong financial and market positions. The fund set a new industry standard by offering quarterly coupon payouts and returning capital annually. The overwhelming response to the Fund led us to exercise the green-shoe option and additionally increase the fund size from the original INR 300 crores to INR 350 crores. The fund seeks to achieve a hurdle rate which is ~350 bps higher than the last reported inflation when traditional fixed-income investments are mired with below-inflation yields.”, said Vineet Sukumar, Founder and CEO, Vivriti Asset Management.
“Expertise and product innovation is key to investing in credit markets. Equally essential is the ability to monitor and manage risks. We are well poised to meet and outperform our target yields.” he added.
