TT&A advised M&G Investments (Singapore) Pte. Ltd. (“M&G”) in relation to its investment of USD 75 million in Vivriti India Retail Asset Fund  (VIRAF) – Series 3 IFSC LLP (“the Fund”), which is domiciled in GIFT City IFSC.

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.

TT&A Team: Rituparno Bhattacharya – Partner; Tanay Agarwal – Managing Associate and Aman Golechha – Senior Associate