Vivriti Asset Management has introduced the Diversified Bond Fund Series 2, an alternative investment fund (AIF) targeting Rs 2,000 crore to invest in mid-sized companies, as per a news report. 

The fund aims to collect a base capital of Rs 1,500 crore, with an additional Rs. 500 crore available as a greenshoe option, offering a yield of 15-16%.

Vivriti plans to secure investments from its current limited partnerships and complete the initial closing by the end of June or early July.

The fund focuses on healthcare, infrastructure, engineering, and consumer-led sectors, emphasising profitable companies with strong cash flows. 

Vivriti Asset Management has raised Rs 3,000 crore over the past five years through various schemes, with eight active funds.

In December, the Reserve Bank of India (RBI) required banks and non-bank lenders to sell their investments in AIFs that had invested in companies receiving loans from these lenders within the previous 12 months. This rule was relaxed in March, reducing the provisions needed against such investments.

Adapting to these regulatory changes, Vivriti has significantly reduced its exposure to fintech non-banking financial companies due to asset quality concerns. 

The new fund reflects Vivriti's continued focus on mid-market companies, aiming to support growth in key sectors through strategic investments

If you want to share any updates, new product launches, new appointments, or any other information to be covered in the news section of PMSBazaaar, write to us at research@pmsbazaar.com