IIFL Asset Management Co. Ltd (AMC) has raised $250 million for its latest IIFL Special Opportunities Fund which was launched in February 2017. IIFL Special Opportunities Fund is a close-ended scheme under Category II Alternative Investment Fund.
The fund was launched to generate long-term capital appreciation through investment in equity and equity-related instruments of to-be-listed companies.
IIFL is the first AMC which will introduce this unique offering to the investors. This is the first attempt to create an organized pool of capital to access market.
The fund focused on pre-IPO and IPO space was introduced in India for the first time.
The first series of the fund (amounting to $250 million) was raised in a span of two months. Looking at the strong demand, IIFL is planning to soon start raising another tranche of capital for the fund which will be another $250-300 million.
The AMC’s decision to launch a focused fund was based on the conviction of strong liquidity flows into the Indian equity markets and the quality and scale of the IPO pipeline.