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True North, a private equity fund, has announced its foray into private credit, raising over Rs 1,000 crore since 2022. The "True North Private Credit" will invest Rs 75 crore in companies and Rs 200 crore in co-investment pools, targeting an internal rate of returns between 15-18%.
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Kapil Singhal, former managing director and India Credit head at KKR & Co, has joined private equity firm True North as managing partner of its new credit business. Singhal quit KKR late last year. He was leading KKR 's non banking finance arm KKR India Financial Services since February last year. He succeeded B V Krishnan, who quit KKR's credit arm in 2019. "In his (Singhal's) partnership with True North, he will lead the efforts in establishing a best in class credit platform," True North said in a LinkedIn post. Singhal joined KKR in October 2019. He used to look after the Edelweiss...
How KKR’s credit risks came crashing down The credit unit’s then CEO Sanjay Nayar (now KKR India’s chairman) saw big potential in structured corporate loans, which tend to offer higher interest rates than traditional bank loans but come with fewer creditor protections. (Photo: Mint)Premium Anto Antony, , Bloomberg A global investment behemoth’s sprint from boom to bust is a cautionary tale about India’s shadow-lending sector. With a growing number of foreign money managers looking for opportunities to sift through the wreckage of India’s debt markets, the story behind KKR’s tr...