ASK Alternates raises over ₹500cr for 2nd private credit fund
ASK Alternates, backed by Blackstone, just raised over ₹500 crore for its second private credit fund, with more than 100 Indian family offices and ultra-high-net-worth individuals (UHNIs) having participated in the fundraise.
The goal is to hit ₹1,000 crore (and maybe even stretch to ₹1,500 crore), all within just five months of launching.
Around 30% called for healthcare, entertainment
Of the capital raised so far, around 30% has been called and is expected to be deployed across two transactions in the healthcare and entertainment sectors.
The focus is on lending to solid businesses that have steady cash flow.
Shantanu Sahai, Fund Manager and CEO, ASK Alternates, shared that both new and returning investors are showing strong interest, with the fundraise reflecting investor interest in private credit and participation from both existing and new investors.