InCred Financial Services aims to float about Rs 10,000-crore AIF

 InCred Financial Services is looking to scale up its alternate investment fund business by raising about Rs 10,000 crore for corporate and special situation investments. In the first phase, it is focussing on high net-worth and ultra-high net-worth families in India. Subsequently, it will look to raise money from institutional investors, including Sovereign Wealth Funds.   

This will be the second fund, according to InCred group founder Bhupinder Singh. Some prominent Asian SWFs include Singapore based Temasek and GIC, and Abu Dhabi Investment Authority (ADIA).

The first fund – looking at special opportunities – will have a corpus of