Northern Arc Funds: Diversified Debt Fund raises ₹400 Cr+, India Impact Fund matures at 14.59% XIRR

Northern Arc Investment Managers Private Limited (NAIM), a subsidiary of Northern Arc Capital Limited, announced the first close of its Northern Arc Diversified Debt Fund with over ₹400 crore in commitments. This fund, a sector-agnostic Category II Alternative Investment Fund (AIF), targets a corpus of ₹1,500 crore with a ₹500 crore greenshoe option, aiming for a 16% XIRR. It holds an AA(SO) rating from CareEdge Ratings. Concurrently, the Northern Arc India Impact Fund has matured, delivering a 14.59% Gross XIRR, in line with its targeted returns. This fund supported 60 businesses with over ₹1,398 crore in gross deployment. Since inception in 2014, NAIM has launched 15 funds, with seven matured delivering a weighted average XIRR over 14.5%.