Ascertis Credit hits $700M second close for $1B Asia private credit fund
What's the deal? Ascertis CreditDealroom has a profile for this one. Try Dealroom →, an India- and Southeast Asia-focused private credit firm, has crossed $700 million in commitments for its fourth fund, which targets a $1 billion corpus. The second close drew existing limited partners plus new investors, including insurance companies, development financial institutions, and family offices in India and overseas.
Why now? The milestone comes almost a year after the fund's $520 million first close in November 2025 — among the largest ever for a private credit fund in India. That puts Fund IV well on the way to its final close.
What's the endgame? The fund will provide customised credit to high-growth businesses across India and Singapore-Southeast Asia, following the strategy of its predecessors. Formerly known as BPEA Credit, the firm has deployed more than $1.5 billion across prior funds and has offices in Mumbai, Delhi, and Singapore.
Backers include the International Finance Corporation, which proposed an equity investment of up to $50 million in the fund.
What they're saying: "Private credit in Asia is increasingly filling a significant funding gap in the credit markets," said Kanchan Jain, head of Ascertis Credit. "There is a clear need for flexible and intelligent capital solutions that go beyond traditional lending models."
The signal: Fundraising for Indian private credit stays strong — Kotak, Motilal Oswal, and Avendus are among firms raising or expanding credit vehicles. But deployment has softened, with deal activity falling sharply in the first half of 2026, according to EY. Ascertis's raise signals continued investor appetite for the strategy, not necessarily faster lending.
Read more: dealstreetasia.com
Image credit: jay galvin
