PGIM India AMC launches Category III Alternative Investment Fund

Mumbai, Oct 05 PGIM India Asset Management Private Limited, one of India’s fastest growing AMCs, today announced the launch of PGIM India’s Alternative Investment Fund (AIF), a SEBI-registered Category III AIF.

Ajit Menon, CEO, PGIM India Asset Management Private Limited, said, “With the launch of AIF, we have expanded our offering to more segments of investors especially in the higher wealth tiers including family offices.”

The Category III AIF will adopt PGIM India’s proprietary philosophy of ‘Growth at Reasonable Price’ (GARP), and will be defined through the Price/Earnings to Growth (PEG) model. The AIF Funds will be helmed by Aniruddha Naha who has been appointed as the CIO – Alternates since April 2023.

Aniruddha Naha, CIO – Alternates, PGIM India Asset Management Company said, “The endeavour is to create investment portfolios focussing on opportunities across segments which may command a faster growing profit pools triggered by changing nature of economy, while keeping an extremely tight discipline of buying the strong balance sheets, cashflows in business and focus on strong capital allocation ethics by the companies. The outcome is high conviction portfolios representing broader, stronger and durable themes, agnostic of popular benchmarks.

PGIM India AIF is planning to raise Rs 500 crore with an option to collect an additional Rs 500 crore through the Green shoe option in this financial year.

The total industry size of the AIF sector in India is about Rs 8,44,926 crore in terms of commitments raised as of June 2023. The Category III AIF has an industry AUM of Rs 85,057 crore in terms of commitments raised during the same period.