Structured credit and special situations with equity upside fund research profile
Alpha Structured Credit Opportunities Fund is a Category II AIF that provides structured credit and special-situations capital, often with equity upside and collateral protection. The fund reached a ₹3,300 crore final close in March 2025. Public filings identify Jain Irrigation, Shivam Autotech, IFIN and ASI Industries as attributable fund-linked assets; broader Alpha platform investments are excluded.
At a glance
Research profile
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Investment lens
Alpha Structured Credit Opportunities Fund uses a structured credit and special situations with equity upside approach across Industrials, infrastructure, manufacturing, special situations.
Current evidence
Alpha Alternatives announced the AASCOF final close in March 2025. 2025–2026 company filings identify the fund in Jain Irrigation, Shivam Autotech, IFIN and ASI Industries investment or financing records.
Strategy
Structured credit and special situations with equity upside
Sector focus
Industrials, infrastructure, manufacturing, special situations
AIF structure context
Indian private credit, venture-debt and special-situations funds are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
Alpha Alternatives announced the AASCOF final close in March 2025. 2025–2026 company filings identify the fund in Jain Irrigation, Shivam Autotech, IFIN and ASI Industries investment or financing records.
Investor questions
Alpha Structured Credit Opportunities Fund is covered in Rupeia's private credit research universe. The current public record describes the strategy as Structured credit and special situations with equity upside, with a sector focus of Industrials, infrastructure, manufacturing, special situations. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to Alpha Structured Credit Opportunities Fund in the reviewed public sources: Jain Irrigation Systems Limited; Shivam Autotech Limited; Industrial Finance Corporation of India Limited; ASI Industries Limited. It does not represent a complete current portfolio unless the manager has published one.
Alpha reported the March 2025 final close and ₹5,500 crore of total capital commitments including co-investments. Company filings in 2025–2026 identify the fund in equity, OCD or AIF holding disclosures. Vehicle-level audited net-return, DPI and TVPI data are not publicly disclosed. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: ₹3,300 crore fund close plus ₹2,200 crore co-investment commitments reported in March 2025.. Public terms or access information: Category II structured-credit fund with reported deal sizes of ₹100–450 crore, and potentially larger co-investments; fees, carry, hurdle, tenor and distribution terms are not publicly disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Kaushal Biyani (Partner / Fund Manager); Amber Gupta (Fund Manager, Structured Credit Opportunities Fund); Naresh Kothari (Founder & Managing Partner). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review borrower concentration, security and seniority, cash versus accrued income, defaults, recoveries, fund leverage and liquidity. The current open diligence point is: The complete current borrower schedule, current NAV, fees, carry, hurdle and audited vehicle-level net returns are not publicly disclosed. Jain Irrigation, Shivam Autotech, IFIN and ASI Industries are retained because company filings or public transaction records identify Alpha Alternatives Structured Credit Opportunities Fund directly. Alpha's separate infrastructure and proprietary-equity strategies are not substituted..
2026-06-30: Alpha Alternatives announced the AASCOF final close in March 2025. 2025–2026 company filings identify the fund in Jain Irrigation, Shivam Autotech, IFIN and ASI Industries investment or financing records.
Next step
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