ASK Alternates launches ₹2,500cr private credit fund targeting 14-16% returns
ASK Alternates (part of the Blackstone-backed ASK Asset & Wealth Management Group) just rolled out its second private credit fund, looking to raise ₹2,500 crore, with an extra ₹1,500 crore possible if things go well.
They're aiming for a solid 14% to 16% return and will back established Indian businesses supported by local promoters and global private equity players.
ASK Alternates fund: senior secured loans
The fund is all about lending to sectors like infrastructure, healthcare, manufacturing, and renewables, basically areas that match up with current government priorities.
Their approach is pretty cautious: they'll stick to senior secured loans with physical collateral and won't touch real estate or risky assets.
The first ASK fund delivered a 15% return across 12 investments.
This time around, they've added a feeder structure through GIFT City to attract global investors and have committed ₹100 crore of their own money, showing they're confident in this bigger plan.