Alpha Alternatives Fund Advisors has raised $450 million in the first close of infrastructure fund Alpha Alternatives Build India Infrastructure Fund (AABIIF), a category II, SEBI registered alternate investment fund (AIF). The fund plans to raise a total of $750 million and has a tenor of five years extendable by up to 2 years, and will invest in road assets across India, including standard, distressed, under-construction, and operating projects.
Naresh Kothari, Founder and Managing Partner said, “We are reimagining the way investors approach real assets investing in India by challenging traditional expectations of limited returns associated with high-quality assets. This first fund of ours will focus on high quality road assets which are the backbone of our economic growth. By creating a unique framework through a strategic partnership, we aim to deliver better risk-adjusted returns offering a compelling new investment opportunity.”
Kaushal Biyani, Partner and Head Illiquid Alternatives, added, “AABIIF aims to capitalise on the investment opportunities in the road infrastructure space in India while addressing the fundamental challenges associated with holding long-term depreciating illiquid assets. AABIIF is our third fund in the Illiquid Alternatives space in the last 18 months, taking the total investor commitments to more that $1.25 billion in our Illiquid Alternative strategies.”
