Key Takeaways
- • Vivriti Asset Management (VAM) completed the exit of its Vintage II private credit funds, returning more than ₹2,260 crore in capital and income to investors, the asset manager said on October 8, 2026.
- • The three Vintage II schemes, launched in 2022, raised over ₹1,700 crore in investor commitments and deployed more than ₹3,500 crore across 45-plus portfolio companies.
- • The moderate-risk scheme delivered a gross IRR of about 15% (about 13% net of fees and expenses), while the conservative scheme, which invested only in 'A'-rated companies, returned a gross IRR of about 12% (about 10.5% net).
- • Cumulative capital and income returned across both fund vintages now exceeds ₹3,400 crore.
- • Investors in Vintage II include insurance companies, alternative investment funds, family offices and high-net-worth individuals.
Summary
Vivriti Asset Management (VAM) has completed the exit of its Vintage II funds, with the three private credit schemes returning more than ₹2,260 crore in capital and income to investors, the firm announced on October 8, 2026. The Vintage II funds were launched in 2022, raised more than ₹1,700 crore in investor commitments, and deployed over ₹3,500 crore across more than 45 portfolio companies during their investment period.
According to VAM, the moderate-risk scheme generated a gross internal rate of return (IRR) of around 15%, while the conservative scheme, which invested only in portfolio companies rated in the 'A' category, delivered a gross IRR of around 12%. After fees and expenses, aggregated investor returns stood at approximately 13% for the moderate scheme and 10.5% for the conservative scheme.
The funds deployed capital across sectors including infrastructure, clean energy, manufacturing, and services such as logistics, co-working, financial services and enterprise software. The strategy focused on providing credit to businesses through structures backed by cash flows and security. VAM said the latest distributions bring total capital and income returned to investors across its two fund vintages to more than ₹3,400 crore.
The Vintage II investor base included institutions such as insurance companies and alternative investment funds, as well as family offices and high-net-worth individuals.
According to VAM, the moderate-risk scheme generated a gross internal rate of return (IRR) of around 15%, while the conservative scheme, which invested only in portfolio companies rated in the 'A' category, delivered a gross IRR of around 12%. After fees and expenses, aggregated investor returns stood at approximately 13% for the moderate scheme and 10.5% for the conservative scheme.
The funds deployed capital across sectors including infrastructure, clean energy, manufacturing, and services such as logistics, co-working, financial services and enterprise software. The strategy focused on providing credit to businesses through structures backed by cash flows and security. VAM said the latest distributions bring total capital and income returned to investors across its two fund vintages to more than ₹3,400 crore.
The Vintage II investor base included institutions such as insurance companies and alternative investment funds, as well as family offices and high-net-worth individuals.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.