Samana Global Business Solutions is planning to raise about ₹4,000 crore through the first scheme of its maiden Alternative Investment Fund (AIF) and is in advanced stages of discussions with both foreign and Indian investors.

The company, which launched the new fund — Samana Global Fund Scheme I (SGF-2020) — on Monday, will invest in equity and equity-related instruments.

“The fund will look to tap Ultra High Networth Individuals (UHNIs), High Networth Individuals (HNIs), family officesand fund houses, and we are also looking to place with foreign funds. We intend to complete the fund-raising within 18 months from January,” Sajith Kumar PK, CEO & MD at IBMC Investment Managers and Advisors, said.

Samana Global Business Solutions is the sponsor of SGF-2020. IBMC Investment Managers and Advisors is the independent investment managers to the fund and Vistra ITCL (India) is the trustee. Vistra ITCL is an independent fiduciary service provider.

SGF-2020 will be a diversified fund with investments in seven verticals: hospitality, healthcare, live farm, academy, land bank, retail and information technology (IT). The fund will invest in start-ups to multinationals.

Feeder fund

“These seven sectors are important for urbanisation,” he said, adding scheme-II of the fund will be launched later. Samana Global will also set up a feeder fund at Abu Dhabi Global Market (ADGM) for mobilisation of international funds. This will enable investors in the United Arab Emirates to invest in Indian projects.

“This will bring in two regulators to the fund...one is SEBI and the other is ADGM...to improve the confidence level of the investors to invest both locally and route funds to India,” Kumar added.

The scheme I is targeting an internal rate of return of 14 per cent. SGF-2020, a category II AIF, is also Shariah-compliant.

“With India emerging as the fastest growing economy, there is huge growth potential in the areas of identified business verticals and the scheme 1 of SGF-2020 getting launched today is expected to leverage this enormous potential,” OMA Rasheed, Chairman and MD of Samana Global Business Group, said.

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