PL Asset Management launches Performing Credit Fund with ₹500 crore target

PL Asset Management, part of the Prabhudas Lilladher Group, has launched its first Alternative Investment Fund (AIF), the PL Capital Performing Credit Fund. The Category II AIF targets a corpus of ₹500 crore with a greenshoe option of an additional ₹500 crore.

The fund aims to offer capital protection and risk-adjusted returns through secured debt investments in growth-oriented businesses. It plans to invest in both listed and unlisted mid-market companies across various sectors, excluding real estate.

The Performing Credit Fund

is designed for ultra-high-net-worth individuals (UHNIs), high-net-worth individuals (HNIs), family offices, and institutional investors. It seeks to provide regular returns through interest and amortisation, and aims for additional upside through event-linked gains.
PL Capital draws on its 80-year market legacy and integrated platform that combines investment banking, research, and wealth services. Its origination network spans corporate and institutional relationships.

The investment committee includes senior professionals such as Amisha Vora, Rajnish Kumar, Punita Kumar-Sinha, Nilesh Vikamsey, and Abizer Diwanji.

The advisory board includes Ashok Barat and Rajesh Narain Gupta.

Samir Satyam and Kapil Sachdeva lead the fund’s management.

PL Capital cited growing demand in India’s private credit market and investor interest in alternative fixed-income strategies as key drivers behind the launch.