IFMR Capital forms overseas alternate fund, JV for global expansion

IFMR Capital plans to enter into strategic alliances with domestic and international institutions for a long term

IFMR Capital, a debt capital platform, has also rebranded itself as Northern Are Capital to reflect plans for expanding the footprint, including a joint venture abroad and overseas alternate investment fund.    

Kshama Fernandes, Chief executive, IFMR Capital, said the company has signed a memorandum of understanding (MoU) with a large global bank and has received anchor investor interest in the overseas alternate investment fund.

According to ICRA Ratings as on December 31, 2017, the company’s assets under management (AUM) stood at Rs 31.14 billion. Out of this, 65 per cent were advancing to NBFCs and corporates (including DO