New Delhi, March 9 -- Alternative asset manager 360 ONE Asset has closed its fifth private credit fund with total commitments of about Rs 3,500 crore (around $379 million), including managed assets.
The Mumbai-based company said the credit fund received commitments from pension funds, insurance companies, family offices and high-net-worth individuals, reflecting rising institutional allocation to alternative assets.
With the latest close, 360 ONE Asset's private credit platform now manages assets worth about Rs 15,200 crore.
"The successful close of our latest fund reflects the deep trust our investors place in our platform and our ability to deliver resilient, risk-adjusted returns," Aakash Desai, chief investment officer and head of private credit at 360 ONE Asset.
The fund will continue the firm's strategy of providing structured credit solutions to Indian corporates, focusing on capital preservation, covenant protection and risk-adjusted yields through bespoke financing structures.
360 ONE Asset said its private credit platform has maintained strong deal origination momentum in recent years. It originated over Rs 6,600 crore of private credit transactions in 2024 and about Rs 7,000 crore in 2025.
Prior to this, the firm in 2024 had raised over Rs 2,130 crore for its fourth private credit fund. The company had raised Rs 600 crore for its first fund, which was launched in 2014. In 2018, it raised the second fund, for which it collected Rs 1,195 crore. It followed with the third fund in 2023, raising Rs 1,037 crore.
360 ONE, founded by Karan Bhagat and co-founder Yatin Shah in 2008 as IIFL Wealth and Asset Management, manages around $11 billion across listed and alternative assets, including about $6 billion in private market investments across alternative investment funds, portfolio management services, and mutual funds.
Published by HT Digital Content Services with permission from VC Circle.