Godrej Industries Group (GIG) on Tuesday announced an entry into the private credit space, targeting to raise up to Rs 2,000 crore in maiden alternate investment fund (AIF).
In an announcement that comes days after Pirojsha Godrej from the next generation of the business family took over mantle as the chairperson of the grouping, GIG said the Godrej Asset Management Company (AMC) will be raising the money in the category-II AIF.
The AIF will be a sector-agnostic platform serving established private mid-market companies with a performing credit strategy, an official statement said, adding that financing will be backed by hard collateral and comprehensive covenant protection.
It is targeting to raise a minimum of Rs 1,000 crore and the overall target corpus is Rs 2,000 crore, along with a greenshoe option, the statement said.
The money will be raised from eligible investors, including high net worth individuals (HNIs), ultra high net worth individuals (UHNIs), family offices and …
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