Investment firm Spark Capital reaches the midpoint in its third venture into private credit financing
In the realm of private equity and credit, financial-services firm Spark Capital has made significant strides. The company has announced that it has raised approximately Rs 400 crore for its third private credit fund, Spark Equitized Credit Solutions Fund (SpECS) III.
According to a top executive of Spark Capital, who shared the information with a news website, the fundraising for SpECS III is ongoing and has already reached the halfway mark. The specific target corpus of SpECS III, however, remains undisclosed due to the detailed information being behind a paywall on the source page.
The fundraising for SpECS III is not the first venture by Spark Capital in private credit funds. The company has a history of successfully managing such funds, with previous fundraisings to its credit.
Meanwhile, in other private credit news, Apollo Global has led a $750-million private credit investment in Adani's Mumbai airport unit. This investment underscores the growing interest of global and local investors in the Indian private equity and credit sector. Local investors, in particular, are currently leading the flow of Limited Partner (LP) money into Indian PE and credit funds.
Elsewhere, Dorf-Ketal is in discussions to raise $500 million in private credit for a European acquisition. Inbrew and Tilaknagar are also seeking private credit for a potential acquisition of Imperial Blue.
While the intended use of the funds raised for SpECS III remains undisclosed, it is clear that the private credit sector in India and beyond continues to attract significant investment. The success of Spark Capital's fundraising for SpECS III is a testament to this trend.
[1] The detailed information about the specific target corpus of Spark Equitized Credit Solutions Fund (SpECS) III can be found behind a paywall on the source page.
Spark Capital is planning to invest the fundraising proceeds of SpECS III in unspecified areas within the private credit sector. This trend of increased investment in private equity and credit funds, led by both global and local players, is evident in the ongoing discussions by Dorf-Ketal to raise $500 million and Inbrew and Tilaknagar seeking private credit for potential acquisitions.
