Artha Global Makes India Debut with Rs 7 billion Private Credit Deal

07 Jul 2025 CW Team

The funding is structured as a four-year non-convertible debenture (NCD) with a variable return model linked to the project’s sales performance. With both floor and cap interest rates, the structure aims to reduce cash flow pressures on the developer while offering investors upside aligned with project revenue.

Sachin Sawrikar, Managing Partner, Artha Bharat Investment Managers IFSC LLP, said,

“As we debut the first private credit investment from our over Rs 5,000 crore Artha Global Opportunities Fund, we are bringing to the market innovative structures that solve for real world business challenges faced by Indian entrepreneurs. This structured funding for this Phoenix Global Spaces project will provide last-mile financing for a high-quality project nearing completion.”

AZB & Partners handled the legal documentation while BSR & Co (KPMG India) advised on tax structuring.

This investment aligns with Artha Global’s three-pillar strategy:

Investing in distressed assets in India and globally;

Providing private credit to profitable Indian businesses needing flexible capital;

Making active PE-style investments, including venture debt.

Phoenix Global Spaces, with over 24 years in Hyderabad’s real estate market and a 40 per cent market share, is developing Phoenix Triton on a 3.15-acre site. The G+41 floor LEED Gold-certified tower will feature modern amenities such as double-height lobbies, landscaped gardens, sky lounges, a Clubhouse, Sports Arena, Business Centre, power backup, 24x7 water supply, rainwater harvesting, and STP systems.

Once completed, the project is expected to become a landmark Grade-A office space, enhancing Hyderabad’s position as a prime business destination.

“With our deep networks in India we look forward to connecting global capital pools with entrepreneurs with innovative value creating propositions that reinforce India’s attraction on the global stage,” added Sawrikar.

The transaction underscores Artha Global’s focus on real-economy investments using bespoke capital structures that reflect ground realities.

Artha Global Opportunities Fund was the first distressed asset Category III AIF registered as an FPI with SEBI to shift from Mauritius to India. It now ranks among the top 10 fund managers in GIFT City by assets under management, office presence, and employee strength.

This investment marks a new phase in India’s private credit ecosystem—blending innovative financing with sectoral depth to create growth-driven and investor-aligned solutions.

Artha Global Opportunities Fund, one of the largest Category III AIFs based in GIFT City, has announced its first private credit investment in India with an infusion of Rs 7 billion into Phoenix Triton, a 2.8 million sq ft commercial real estate development in Hyderabad’s financial district. The funding is structured as a four-year non-convertible debenture (NCD) with a variable return model linked to the project’s sales performance. With both floor and cap interest rates, the structure aims to reduce cash flow pressures on the developer while offering investors upside aligned with project revenue. Sachin Sawrikar, Managing Partner, Artha Bharat Investment Managers IFSC LLP, said, “As we debut the first private credit investment from our over Rs 5,000 crore Artha Global Opportunities Fund, we are bringing to the market innovative structures that solve for real world business challenges faced by Indian entrepreneurs. This structured funding for this Phoenix Global Spaces project will provide last-mile financing for a high-quality project nearing completion.” AZB & Partners handled the legal documentation while BSR & Co (KPMG India) advised on tax structuring. This investment aligns with Artha Global’s three-pillar strategy: Investing in distressed assets in India and globally; Providing private credit to profitable Indian businesses needing flexible capital; Making active PE-style investments, including venture debt. Phoenix Global Spaces, with over 24 years in Hyderabad’s real estate market and a 40 per cent market share, is developing Phoenix Triton on a 3.15-acre site. The G+41 floor LEED Gold-certified tower will feature modern amenities such as double-height lobbies, landscaped gardens, sky lounges, a Clubhouse, Sports Arena, Business Centre, power backup, 24x7 water supply, rainwater harvesting, and STP systems. Once completed, the project is expected to become a landmark Grade-A office space, enhancing Hyderabad’s position as a prime business destination. “With our deep networks in India we look forward to connecting global capital pools with entrepreneurs with innovative value creating propositions that reinforce India’s attraction on the global stage,” added Sawrikar. The transaction underscores Artha Global’s focus on real-economy investments using bespoke capital structures that reflect ground realities. Artha Global Opportunities Fund was the first distressed asset Category III AIF registered as an FPI with SEBI to shift from Mauritius to India. It now ranks among the top 10 fund managers in GIFT City by assets under management, office presence, and employee strength. This investment marks a new phase in India’s private credit ecosystem—blending innovative financing with sectoral depth to create growth-driven and investor-aligned solutions.

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