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
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.
Fund Manager Details
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.
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.