InCred Alternative Private Investments (“InCred Alternatives”), the alternatives asset platform of InCred Capital, today announced the successful final close of its maiden special opportunities credit fund, InCred Special Opportunities Fund-I (“ISOF-I”, the “Fund”), at its hard cap of Rs 1,500 crore.

The Category II, close-ended Alternative Investment Fund (AIF) attracted commitments from domestic family offices, ultra-high-net-worth individuals and international investors.

The fund aims to focus on old economy businesses with hard asset coverage, established cash flows, and clear structural downside protection built in at the time of investment. Approximately 75% of the fund has already been deployed across sectors such as auto, power, oil & gas, and hospitality.

With this raise, InCred Alternatives has successfully raised over Rs 4,000 Cr across its performing credit funds and special situation funds.

Also Read: InCred Capital Appoints Sanjay Singh as Investment Banking Head

Saurabh Jhalaria, Chief Investment Officer – Private Credit, InCred Alternatives, said: "India's private credit market is at an early but decisive stage of institutionalisation and is very different from the private credit market in the West. The supply gap is large and the risk-reward potential is compelling. Closing ISOF-I at its full targeted fund raise validates InCred Alternatives’ depth of origination and deal structuring capabilities."

Bhupinder Singh, Founder - InCred Group, shared, “Still early days for private credit in India — which is exactly why the opportunity is so exciting. Proud of the team for building this with real discipline — strong origination, sharp underwriting, and clear downside protection. We’ve been at this since 2022, and while ISOF-I is an important milestone, there’s a long runway ahead.”

Launched in 2022, the private credit offering of InCred Alternatives has built a consistent track record in origination, underwriting, active portfolio management, and income distribution.