Morgan Stanley India plans to launch its second private credit fund of around $750 million, VCCircle reported on Thursday, citing people aware of the development.
The firm, which manages the North Haven India Infrastructure Fund, aims to mop up more than double the amount it secured in its last outing.
It had raised $300 million previously but is confident of raising a much larger corpus this time around as the debut fund recently harvested a few profitable exits, the report said.
The firm exited its investment in iBus Network last month by selling it to National Investment and Infrastructure Fund (NIIF), while it also divested its stake in Leap India.
Infrastructure spending in the country has accelerated over the years, and a couple of large global investors have launched India-dedicated infrastructure funds.
In March, Canada Pension Plan Investment Board (CPP Investments), one of the world’s largest pension funds, made a further Rs 1,820 crore (about $219 million) commitment to India’s National Highways Infra Trust (NHIT).
Last year, KKR invested an additional $250 million in India’s Serentica Renewables, months after injecting $400 million into the company. Last year, KKR and Hero Group agreed to invest $450 million in the company’s renewable energy arm Hero Future Energies (HFE).
