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AIF Cat II · Distressed Altico Capital open_in_new

Altico Special Situations Fund I

Target IRR

22.1%

Fund Type

Distressed Asset Fund

Fund Target Size

₹3,500 Cr

Fund Tenure

7 Years

Min. Commitment

₹1 Crore

Fund Structure

Close-Ended Contributory Trust

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About the Fund

Altico Special Situations Fund I deploys capital into stressed corporate assets acquired through IBC CIRP processes, SARFAESI enforcement, and bilateral debt-for-equity conversions. The fund targets mid-market real estate and industrial companies where distress has created acquisition opportunities at 30–50% discounts to intrinsic value — followed by operational turnarounds that unlock value for resolution applicants.

The fund's competitive advantage lies not merely in buying cheap assets but in executing successful resolutions of complex, multi-creditor situations. The dedicated restructuring team — with 40+ completed IBC CIRP transactions — provides superior insight into CoC dynamics, NCLT jurisprudence, and resolution timelines. Post-acquisition, the fund installs professional management, implements operational rightsizing, and deploys fresh working capital to revive viable businesses.

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Fund Manager Details

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Rajiv Sabharwal

Managing Director & CEO, Altico Capital

28+ years in corporate banking, distressed debt, and special situations; formerly ICICI Bank and Apollo Global Management India

Rajiv Sabharwal leads Altico's distressed asset franchise with 28 years of experience spanning ICICI Bank corporate banking and Apollo Global Management's India distressed credit platform. His team of 42 investment and restructuring professionals has executed 40+ IBC CIRP resolution plans across real estate, hospitality, and manufacturing.

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Fund Details

SEBI AIF Registration

IN/AIF2/15-16/0338

Fund Category

Category II AIF – Distressed Asset Fund

Entry Mechanisms

IBC CIRP resolution applicant; SARFAESI acquisition; bilateral distressed debt purchase

Target Entry Discount

30–50% of liquidation value

Typical Holding Period

3–5 years per asset

Management Fee

2.0% p.a. on invested capital

Hurdle Rate

12% p.a.

Carried Interest

25% above hurdle (deal-by-deal)

IBC/NCLT Team

Dedicated 8-member legal & restructuring team

Trustee

Beacon Trusteeship Services

Tax Treatment

Pass-through under Sec 115UB

Interested in this fund?

Speak with our institutional advisory team for eligibility, documentation, and onboarding.

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