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Investment manager Arka Investment Advisory Services Private Limited has made the final closing of Arka Credit Fund I.

Arka Credit Fund I is a scheme of Arka’s maiden credit fund, Arka Credit Fund.

The category II alternative investment fund (AIF) is a diversified, sector agnostic, performing credit fund. It provides structured solutions to mid-market corporates and conglomerates supporting their business needs, Arka Investment Advisory said in a statement.

The investment management company is backed by Kirloskar Oil Engines Limited’s integrated financial services platform Arka Financial Holdings Private Limited.

“With the continued strong demand in the private credit space through our fund platform now, we have plans to grow this significantly in the coming year and beyond,” said Sonit Singh, Chief Business Officer-Real Estate, Asset Management & Advisory,  Arka Financial Holdings.

Launched in February 2023 as a natural extension to Arka Fincap Limited, Arka Credit Fund has made six investments across transportation, real estate, financial services, and steel manufacturing, and waste management.

“Through our fund, we are able to successfully leverage our understanding and knowledge of the business to provide exciting investment opportunities to our investors and complement our track record that we have created in the NBFC

prior to this diversification,” said Vimal Bhandari, Executive Vice Chairman & CEO, Arka Fincap Limited.

Last year, Arka Investment Advisory marked the first close of its Rs 250-crore category II AIF.