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Srei Alternative Investment Managers (SAIML), the fund management arm of Kolkata-based Srei Infrastructure Finance, on Tuesday, announced the launch of its ₹2,000-crore India Vision Fund.
It will primarily concentrate on those assets which can be revived through proper nursing; which in turn means that it will be looking to buy stressed assets.
The fund, according to Nalin Kumar, CIO, SAIML, will “invest in debt or mezzanine instruments of companies having future opportunities.”
“The fund will purchase assets or loans and invest by way of debt and other instruments, which will be taken over from corporates, banks, NBFCs, or even Asset Reconstruction Companies (ARCs),” Kumar added.
It has also initiated talks with corporates and banks, and is specifically looking at those opportunities where resurrection (of the asset) is possible.
“We will look to have those assets where we can have a say in its management or where we have control or significant influence,” he added. Focus will mostly be on assets based out of India.
According to Kumar, the company has approached many investors, both domestic and international, and they have expressed keen interest to invest.
International investors SAIML is looking to tap include some in the Western hemisphere and some in Asia. Ultra high net worth individuals too will be tapped.
“Ideally, we would like to close the fund by the middle of the year,” he said.
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