RV Capital Management Pvt.’s India unit plans to lift 8 billion rupees ($96.1 million) by means of its first India non-public credit score fund, becoming a member of a rising record of world managers which are organising comparable ventures within the nation.

The fund will primarily spend money on mid-market corporates, whereas placing as much as 20% of capital in listed local-currency bonds, Shyamal Karmakar, managing director and chief funding officer at RV Capital Advisory India Pvt., a unit of Singapore-based agency, stated in an interview in Mumbai. The five-year non-public credit score fund is “targeting a rupee return of 14%-16%,” he added.