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Vivriti Asset Management (VAM), a mid-market private credit-focused Alternative Investment Fund (AIF) manager, has outlined plans to achieve a 25&30% compounded annual growth rate over the next five years, citing strong demand for specialised debt solutions. The firm, which manages nearly INR 5,000 crore in assets, intends to double its fundraising from the Kolkata market by FY27 as part of a broader push in Eastern India. With the domestic debt AIF market estimated at INR 2&2.25 lakh crore and Kolkata's market valued at around INR 15,000 crore, VAM sees significant potential among high-net-worth individuals and family offices seeking yield with lower volatility than equities. The firm is also preparing to launch a INR 3,000 crore Diversified Bond Fund-Series III in 2026.
Vivriti Asset Management (VAM), a private credit-focused Alternative Investment Fund (AIF) management firm, has announced plans to grow at a compounded annual rate of 25-30% over the next five years, driven by sustained demand in India's specialised debt market. Advertisement
The firm, which manages close to INR 5,000 crore in assets including a fund domiciled in GIFT City, is sharpening its focus on Eastern India. According to chief investment officer Soumendra Ghosh, VAM's current exposure to Kolkata accounts for 3% of its total domestic fundraise. The company aims to double this share by FY27 as part of a deeper regional expansion strategy.
The debt AIF market in Kolkata is estimated at around INR 15,000 crore, while the broader domestic debt AIF market is valued between INR 2 lakh crore and INR 2.25 lakh crore. The eastern region, particularly West Bengal and Odisha, is expected to contribute meaningfully to fresh commitments over the coming years. The firm noted that the region comprises nearly 60,000 millionaire households, with Kolkata ranking as the country's fifth-largest city in terms of millionaire households as of 2025.
VAM said family offices and high-net-worth individuals are increasingly seeking investment avenues that offer yield with lower volatility compared to equity markets, alongside portfolio diversification.
As part of its growth roadmap, the firm plans to launch the Diversified Bond Fund-Series III under its Vintage-IV series in 2026. The proposed fund will target INR 3,000 crore, with a greenshoe option of INR 2,000 crore, and will focus on providing flexible debt solutions to mid-market enterprises.
The company is also nearing the final closure of its Diversified Bond Fund Series II (Vintage-III), a Category II debt AIF, with commitments exceeding INR 2,100 crore following the exercise of its greenshoe option.
VAM stated that it has returned full capital for three funds under Vintage-I by 2024 and has distributed over 63% of invested capital in Vintage-II funds. Its GIFT City-based Vivriti India Retail Assets Fund has raised USD 190 million (approximately INR 1,722 crore) and deployed USD 240 million (approximately INR 2,175 crore) in Indian securitised notes since 2023, investing across sectors including roads, auto, media, steel, healthcare, warehousing, financial services and aviation.
Source - PTI
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