Vivriti Asset Management (VAM) has announced the successful maturity and exit of its Vivriti Samarth Bond Fund (SBF), marking a significant achievement for the company's first private credit Alternative Investment Fund (AIF).

Launched at the end of 2019, the Samarth Bond Fund was a close-ended Category II AIF that raised Rs 265 crore from a diverse group of investors, including institutional investors, ultra-high-net-worth individuals (UHNIs), and family offices. 

Over its term, SBF made 20 investments totaling Rs 449 crores, with a portfolio yield exceeding 15.5% and a median portfolio rating of BBB+.

Says Soumendra Ghosh, Chief Investment Officer at Vivriti Asset Management, remarked, “We launched in pre-pandemic times following the corporate crises of 2018, navigated through the uncertainties of 2020-21, and concluded in an environment of higher interest rates and tighter liquidity.”

The fund's performance has been positively received by its investors. Amit Ganorkar, Managing Director of Royal Sundaram General Insurance Co. Limited, praised the fund’s results, saying, “As early adopters of new asset classes like AIFs, we found SBF's strategy and governance reassuring. The fund has performed above expectations...”

Vivriti Asset Management, established in 2019, focuses on fixed-income alternative investment fund schemes, targeting debt issued by mid-sized enterprises. To date, VAM has raised over US$500 million across its credit funds from more than 900 clients and has returned over US$110 million in capital to investors.

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