BPEA Credit closes $475 million fund, its largest to date

BPEA Credit, the credit arm of Baring Private Equity Asia BPEA, has announced the final close of its third India-focussed private credit fund, which targets mid-market credit opportunities in the domestic market.

Closing fundraising at $475 million, the vehicle is the firm’s largest fund to date and is more than three times larger than its predecessor, which closed in 2019, at $140 million. The successful fundraise reflects the steady track record that BPEA has built over the years, managing director and BPEA head of credit, Kanchan Jain, told FinanceAsia.

While India’s banking sector is large and well established, Jain sees a “massive opportunity” to...