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Vivriti Asset Management Declares the Samarth Bond Fund’s Successful Maturity and Exit

May 17, Mumbai (Maharashtra) [India]: The company’s first Alternative Investment Fund (AIF) for private credit, Vivriti Samarth Bond Fund (SBF), successfully matured and exited. Vivriti Asset Management (“VAM”) is a debt asset manager operating in the performing credit area.

SBF, a close-ended fund classified as a category II AIF that was launched at the end of 2019, raised INR 265 crores in capital from a variety of investors, including family offices, UHNIs, and institutional investors. SBF made 20 investments totaling INR 449 crores throughout the fund’s lifetime, yielding a portfolio yield of more than 15.5% and a median portfolio grade of BBB+.

After our investment, the ratings of 11 out of 20 firms increased, while the ratings of just one company decreased. The credit ratings of three of the eleven portfolio firms were raised by more than one notch.

Chief Investment Officer of Vivriti Asset Management, Soumendra Ghosh, stated: “We would like to express our gratitude to our customers for their support throughout the early stages of VAM as we depart SBF, our maiden fund. Launched before the pandemic, in the wake of the 2018 business crises, SBF was mostly used through 2020–21 to combat modeling risk uncertainties and was withdrawn through 2023–24 in the face of rising interest rates and more stringent liquidity. SBF was well served by adhering to its investment thesis, maintaining an emphasis on risk management in spite of external events, and choosing assets in a countercyclical manner.”

“Royal Sundaram has been an early adopter of new asset classes like AIF, which are approved by IRDA for insurance companies to augment our portfolio yield,” said Mr. Amit Ganorkar, Managing Director, Royal Sundaram General Insurance Co. Limited. We invested in the Samarth Bond Fund because we were comfortable with the fund’s investment strategy and saw harmony in its governance structure and market perception. We congratulate the Vivriti team on the fund’s successful maturity and its performance beyond the hurdle rate. We also wish them well in their future endeavors. We are pleased with the Fund’s results as well as the regular information release and oversight procedure.”

Vineet Sukumar, Founder & MD, Vivriti Asset Management, made the following statement in response to the departure: “We are delighted to announce the successful exit of the Vivriti Samarth Bond vehicle, a vehicle that attracted money from a widely varied investor base throughout the hardships of the epidemic. The fund’s outstanding performance confirms the efficacy of our distinct credit investing strategy. I am appreciative of our customers’ steadfast support throughout our formative years.”

Asset managers of fixed-income alternative investment fund schemes are called Vivriti Asset Management. Since its founding in 2019, VAM has gathered over 900 customer commitments totaling over US$500 million for its credit funds and repaid over US$110 million in money to investors. It is a division of Vivriti Group, which oversees c. US$1.3 billion in assets across its loan and asset management divisions.

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