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| Category: | Category II AIF – Close ended |
| Confidence capital: | 10% of the fund up to Rs. 100 Crores |
| Target Size: | INR 1000 Cr + INR 250 Cr (Green Shoe) |
| Commitment Period: | 24 months from final closing; option to extend by two additional periods of 6 months |
| Term: | 5 years from the date of initial Closing. Extensions up to 2 years (1+1) Years |
| Investment Manager: | Axis Asset Management Company Limited |
| Investment Manager’s Commitment: | 2.5% of the aggregate Capital Commitments or Rs. 5 crores (whichever is lower) |
| Target Deal IRR: | 13-14% |
| Proposed Portfolio Size: | 12–14 transactions |
| Target Deal IRR: | 13-14% |
| Capital Structure: | Class A Units: Refer Structure Below | Class B Units: To the Investment Manager and Sponsor |
Axis Structured Credit AIF – II
About Company
Portfolio management services and alternative investment funds are offered by Alternates by Axis AMC, giving investors the chance to diversify their portfolios beyond the usual stock and fixed income assets. Due to their low connection to conventional asset classes, alternative investments help to diversify portfolios. Our adventure began in 2017 with the release of our flagship PMS product, Axis Brand Equity Portfolio. This led the way for a variety of strategies in late-stage private equity, real estate, structured debt, and listed equity (second PMS issuance and several Cat-III AIFs) (Cat-II AIFs). These strategies reflect the investment requirements of our investors as well as our capacity as a financial institution. The individuals behind these strategy verticals have extensive experience, and their knowledge is assisting us in expanding this company, which is essential to achieving our entire asset management goals, which also include Alternates, Global Feeder Structures, Passives & ETFs, and Mutual Funds. To take advantage of synergies, we strategically collaborate with our group firms.
Fund Snapshot
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About Fund Manager
Dhaval Patel – Fund Manager, B.E. (Electronics) NIT Surat, MBA – IBS Hyderabad, FRM
Mr. Dhaval Patel has over 15 years of fund management & credit research experience in India. His previous experience includes Axis Mutual Fund and CARE Ratings. Before moving to the alternatives segment at Axis AMC, Dhaval was a co-fund manager for credit strategies at Axis Mutual Fund. In addition, he looked after the credit research and portfolio monitoring for the fixed income team. He was deeply involved in development & management of fund strategies especially credit oriented schemes and oversaw implementation.
At CARE Ratings, Dhaval led a team of credit analysts and was responsible for assignment and monitoring of credit ratings to large corporates from diverse sectors.
Unique Features of Axis Group
Key aspects of the Process
Fund Overview
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FAQ's
- 1. What is the primary objective of the Axis Structured Credit AIF-II fund?
The fund is designed to invest in structured credit opportunities by extending credit to companies that offer strong collateral and legal protections, with a focus on generating high-yield outcomes.
- 3. What is Axis AMC’s track record in credit strategy investments?
Axis AMC brings nearly a decade of experience in executing credit strategy investments.
- 5. How did Axis Structured Credit AIF-I perform in terms of returns and payouts?
The fund delivered a gross IRR of approximately 13%, executed fourteen payouts, and returned over 83% of the invested capital through matured and partially repaid deals.
- 7. What is the targeted fund size for Axis Structured Credit AIF-II, including the green shoe option?
The fund has a base target of INR 1,000 crores, with an additional INR 250 crores under the green shoe option.
- 9. How will investor capital be managed during the initial three years of the fund’s lifecycle?
Capital received during the first three years will be reinvested. Post this period, distributions to investors will commence.
- 11. What is the targeted gross IRR range for Axis Structured Credit AIF-II?
The fund is targeting a gross internal rate of return (IRR) between 13% and 14%.
- 2. Why does a market opportunity exist for structured credit funds such as Axis AIF-II?
Given the asset quality concerns surrounding NBFCs and regulatory constraints on mutual funds, a funding gap has developed in the credit ecosystem. Axis AIF-II aims to address this underserved segment.
- 4. What types of credit structures has Axis AMC successfully deployed capital in previously?
Axis AMC has invested in promoter financing backed by high-quality collateral, securitized structures, and multi-originator collateralized debt instruments with built-in credit enhancements.
- 6. What is the total capital raised by Axis Structured Credit AIF-II as of December 31, 2024?
As of December 31, 2024, the fund had mobilized capital exceeding INR 550 crores.
- 8. What is the fund tenure of Axis Structured Credit AIF-II from its first close?
The fund has a tenure of five years, commencing from its first close in October 2023.
- 10. What forms of security or guarantees back the investments made by Axis Structured Credit AIF-II?
Investments are secured through pledged shares, promoter guarantees, escrow arrangements for cash flows, corporate guarantees, and covenant-based financial protections.
- 12. What are the key characteristics of a portfolio company, such as Flash Capital Pvt Ltd, that the fund has invested in?
Flash Capital received funding secured by a 2.5x cover in the form of shares, supported by personal guarantees and hypothecation of receivables and other assets.
