Modulus Alternatives' India Credit Opportunities Fund II closes above ₹700 crore

Modulus Alternatives, an alternative asset manager backed by Centrum Group, has successfully closed its India Credit Opportunities Fund II (ICOF II) with commitments exceeding ₹700 crore. The Category II AIF focuses on investing in performing private credit opportunities across India and has attracted participation from family offices, institutions, HNIs, and UHNIs.

ICOF II has already invested in 11 companies, deploying over ₹1,156 crore (between the Fund and Other Investors) across various sectors including pharmaceuticals, energy, and financial services. The fund has distributed consistent quarterly income, achieving an annualised cash income distribution rate (including TDS) of 10.00% and returning over ₹43 crore to investors. It holds a CARE AIF 1 grading, the highest assigned by CareEdge.

Across its credit platform (Fund I and II), Modulus Alternatives has deployed ₹2,946 crore, successfully exiting 16 transactions, and cumulatively returning over ₹1,690 crore to investors. Its maiden fund, Centrum Credit Opportunities Fund (CCOF), announced its maturity and complete exit in January 2025, achieving a gross IRR of 17%+.