Franklin Templeton Category II Alternative Investment Fund Trust, managed by Franklin Templeton Alternative Investments (India), has announced the first close of Franklin India Credit AIF – Scheme I, raising over ₹205 crore. The scheme achieved its first close on April 28, 2025. Franklin India Credit AIF – Scheme I, established under the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, has a target corpus of ₹1,000 crore. It is designed to invest in debt securities, including both primary issuances and secondary market purchases, of portfolio companies in India.

The fund will primarily seek to invest in secured instruments of portfolio companies, encompassing a mix of debt, mezzanine instruments, pass-through certificates, and market-linked debentures. It is expected to have significant exposure to the financial services sector, including non-banking finance companies (NBFCs) and housing finance companies (HFCs).

The portfolio management team at Franklin Templeton Alternative Investments (India) is led by Santosh Kamath, CIO and President, and Arun Gupta, Head of Investments.

Franklin Templeton Alternatives manages over US$250 billion in alternative assets as of 31 March 2025, with a team of nearly 400 alternative investment professionals globally. Its capabilities span private equity secondaries, private credit, real estate, hedged strategies, venture capital, and digital assets.