The new fund aims to leverage India s manufacturing renaissance. While experts are bullish on this theme, there are concerns over the fund house’s recent performance.
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Axis Asset Management plans to raise up to Rs 1,250 crore ($165m) with its new private credit alternative investment fund. The fund will be part of Axis Mutual Fund s alternative assets business, which also includes real estate and private equity funds. The platform is targeting a base size of Rs 1,000 crore for the fund and a green shoe of Rs 250 crore, the person said, adding that Axis is targeting a first close of about Rs 500 crore for the fund.
The seventh-largest fund house in terms of assets under management had earlier suspended chief trader Viresh Joshi and assistant fund manager Deepak Agrawal.