360 ONE Seeks Up to $500 Million for Private Credit Fund

Private Credit Fundraising Remains Resilient in India

360 ONE Asset Management is seeking to raise as much as $500 million for its sixth private credit fund, underscoring sustained investor appetite in the country. Despite a slowdown in the $1.8 trillion private credit markets globally, fundraising has remained resilient in India.

The fund, which may launch as early as June, is expected to target investors including wealthy individuals and family offices in India, as well as overseas institutions. The fundraising drive is a testament to India's growing appeal as a market for private credit investments.

The private credit market slowdown globally is attributed to concerns about loan quality and exposure to software borrowers. However, in India, fundraising has remained robust. Last week, Lighthouse Canton launched a fund seeking to raise 12 billion rupees, while InCred Alternative Investments in April closed its first special situations credit fund at 15 billion rupees.

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In contrast, 360 ONE Asset's previous fund, which closed in March, raised about $400 million. The firm's alternatives business, spanning private credit, real estate, and private equity strategies, expanded 23% to 5.8 trillion rupees ($60 billion) at the end of the financial year 2026, according to company data. Proceeds from the new fund will be used to finance mid-sized firms and special situations, including acquisition financing, refinancing, and stake buyouts from existing investors.