Secondary loans fund research profile
SC Lowy is an Asia-Pacific and Middle East private-credit specialist with a Mumbai office, a focus on senior-secured and opportunistic corporate lending, and a documented history in distressed and special-situations credit. Its India record includes direct real-estate and infrastructure debt as well as a broader role in the country’s distressed-loan market.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
SC Lowy (India) uses a secondary loans, special sits, direct approach across Senior-secured lending, special situations, real estate.
Current evidence
SC Lowy’s current India update recognizes its growing private-credit activity and names Ankit Thaker and Theron Alldis as India portfolio managers. The manager’s current platform reports $5.8 billion of capital deployed and $1.5 billion of AUM globally; India vehicle-level terms and returns are not publicly disclosed.
Strategy
Secondary loans, special sits, direct
Sector focus
Senior-secured lending, special situations, real estate
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
SC Lowy’s current India update recognizes its growing private-credit activity and names Ankit Thaker and Theron Alldis as India portfolio managers. The manager’s current platform reports $5.8 billion of capital deployed and $1.5 billion of AUM globally; India vehicle-level terms and returns are not publicly disclosed.
Investor questions
SC Lowy (India) is covered in Rupeia's private credit research universe. The current public record describes the strategy as Secondary loans, special sits, direct, with a sector focus of Senior-secured lending, special situations, real estate. 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 SC Lowy (India) in the reviewed public sources: Pharande Township; Srinagar–Banihal Expressway; India industrial-cement loan; India real-estate primary loan. It does not represent a complete current portfolio unless the manager has published one.
SC Lowy publishes India examples with 19% IRR / 1.24x MOIC on a real-estate primary loan and 15% IRR / 1.3x MOIC on an industrial-cement loan; the manager presents these as investment examples, not a fund-wide return. Mint also reported India represented 30–40% of the firm’s activity at the time of its interview. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: SC Lowy reports $1.5 billion AUM and $5.8 billion capital deployed on its homepage; its private-credit page reports $1.7 billion invested capital. These are firm or strategy-level figures, not an India-only fund size.. Public terms or access information: The manager describes short- to medium-term, typically senior-secured lending against hard assets and cash flows, often with low LTVs and no leverage at strategy level; India vehicle fees, carry and exact fund terms are not publicly stated.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Ankit Thaker (Head of India); Theron Alldis (India portfolio manager); Michel Lowy (Founder). 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: India vehicle size, fees/carry, tenor and realized-return series are not publicly disclosed; positions are limited to attributable public transactions and manager materials..
2026-01-27: SC Lowy’s current India update recognizes its growing private-credit activity and names Ankit Thaker and Theron Alldis as India portfolio managers. The manager’s current platform reports $5.8 billion of capital deployed and $1.5 billion of AUM globally; India vehicle-level terms and returns are not publicly disclosed.
Next step
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