Vivriti Asset Management (VAM), a private credit asset manager, has announced the successful completion and exit of its Vintage II funds, comprising three performing credit schemes, within the stipulated fund life and in line with their objectives.
The Vintage II funds, launched in early 2022 and closed by September 2023, raised more than ₹1,700 crore from institutional investors, including insurance companies and AIFIs, as well as family offices and HNIs. The funds deployed more than ₹3,500 crore across over 45 portfolio companies spanning infrastructure, clean energy, manufacturing and services.
The three funds collectively returned more than ₹2,260 crore in capital and income to investors. The moderate-risk scheme generated a gross IRR of around 15%, while the conservative scheme, which invested only in A-rated portfolio companies, delivered a gross IRR of around 12%. Net returns were approximately 13% and 10.5%, respectively.
In Kolkata, the fund exits highlight the growing relevance of private credit for businesses seeking flexible financing beyond conventional bank lending and equity, particularly across infrastructure, manufacturing, logistics and services.
VAM said it has now returned more than ₹3,400 crore in capital and income to investors across two fund vintages. Founder and MD Vineet Sukumar said the investment approach focused on strong cash flows, security and diversification, while CIO Soumendra Ghosh said the outcomes demonstrated the asset class’s potential to provide steady income and predictable returns with relatively low volatility.