BPEA makes final close of largest private fund at $475m

BPEA Credit, an independent private credit platform with one of the longest and strongest performing track records in the industry, announced the final closing of its third private credit fund, BPEA Credit – India Fund III, with capital commitments of $ 475 million.

The fund, which is backed by blue chip international institutions, is more than three times larger than its predecessor fund. It will continue BPEA Credit’s strategy of focusing on secured lending to fast-growing Indian mid-market companies.

“Our third fund is a significant milestone for BPEA Credit, which has been investing in the mid-market space in India for more than a decade, offering consistent and attractive returns,” commented Kanchan Jain, Head of BPEA Credit.

“We have now raised our largest fund to date by some margin, with support from major international institutions in Asia and North America. We see India as one of the primary markets for private credit in Asia in the coming years, driven by strong demographics, macro fundamentals and a large amount of attractive growth opportunities in several sectors,” Jain added.

The structural shortage for debt in India has created a higher return, lower credit risk investment environment relative to developed markets, and private credit investments in the country have regularly outperformed other asset classes.

BPEA Credit has established itself as one of the largest private credit platforms in India, offering an institutionalized approach to lending in the profitable mid-market space. Working alongside domestic banks and other lenders, BPEA Credit seeks to support profitable fast growing mid-market businesses with customized non-dilutive growth capital solutions.

Since its inception in 2011, the BPEA Credit team has deployed close to USD800 million across 50+ deals, with consistent returns across vintages years and a diverse group of sectors.

The blue-chip backing for India Fund III includes commitments from several North American pension fund managers such as Canada Pension Plan Investment Board, global development institution IFC, and other prominent financial institutions in Asia and the Middle East.