IIFL AMC generates USD 216 million in its IPO focussed fund

In just two months of the launch of its second series of its alternative investment fund called IIFL Special Opportunities Fund – Series 2, the company posted that the IIFL AMC has recorded raising of USD 216 million.       

The company's Special Opportunities Fund is the India-based fund, committed to investing in companies in their pre-IPO and IPO period.

In the first series of the fund, that was launched in May 2017 the company had raised USD 250 million.   

Falling under Category II Alternative Investment Fund (AIF), IIFL Special Opportunities Fund – Series 2 is a close-ended scheme. The fund operates to produce  long-term capital appreciation through equity investments and investment in equity related financial instruments of the company that is in the pre-IPO or IPO phase. 

Usually, the private equity funds make investments in unlisted securities, that are expected to get listed in the coming 5 years. Uniquely, IIFL Special Opportunity Fund invests in securities that are to be listed within a time frame of 6 to 12 months. 

The company had launched a series 2 following the immense positive response the series 1 bagged after its launch. IIFL had become the first asset management company to introduce investment opportunities in the IPO segment in India with the launch of series 1. While the collection in series 2 was one of the largest collection by an AIF in India.