INCRED CREDIT OPPORTUNITIES FUND – III (ICOF - III)

The InCred Credit Opportunities Fund (ICOF) series—managed by InCred Alternative Investments—is a flagship Category II Alternative Investment Fund (AIF) focused on "performing credit" to bridge the debt capital gap for emerging and mid-market Indian corporates. Operating through structured credit profiles like the latest Series III (targeting a ₹1,000 Crore base plus a ₹500 Crore greenshoe option), the strategy aims for a gross IRR of 16–17% by underwriting profitable, asset-backed businesses with strong operating cash flows and disciplined governance. Rather than backing early-stage binary risk, the fund builds a highly granular, diversified portfolio across sectors like B2B, healthcare, clean tech, and industrials, locking in average deal tenors of 24–36 months and enforcing strict financial covenants to deliver predictable, monthly distributions of approximately 1% to its investors.