M&G Investments (Singapore) Pte. Ltd. has made an investment of approximately ₹620.4 crores ($75 million) in Vivriti India Retail Asset Fund (VIRAF) – Series 3 IFSC LLP (the Fund), which is domiciled in GIFT City IFSC.

Talwar Thakore & Associates advised M&G Investments in this deal.

The transaction team consisted of Rituparno Bhattacharya (Partner), Tanay Agarwal (Managing Associate) and Aman Golechha (Senior Associate).

Vivriti India Retail Asset Fund (VIRAF) will be a first-of-a-kind asset-backed securitization (ABS) fund in India. IFC has invested US$30 million in VIRAF, managed by Vivriti Asset Management and backed by a capital commitment of USD 75 million from M&G Catalyst - a global private assets strategy within leading international investment manager M&G Investment.

The fund will focus on scaling investment in securitized debt securities with MSE-backed assets - predominantly microloans to MSEs, which will constitute about 90 percent of the portfolio.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.