360 One Introduces Rs 4,000 Cr Secondaries Fund: Report
As per media reports, the firm is also developing a healthcare fund, with its second investment close to completion and a third term sheet signed
360 ONE Asset has entered the private equity secondaries market with a Rs 4,000 crore fund, with over half already raised. The fund has already closed five investments, covering 20-25 per cent of its portfolio, according to media reports.
Globally, the secondaries market is valued at over USD 130 billion, while in India it remains nascent. Secondary funds acquire existing assets or stakes from primary PE investors. As per media reports, the average investment ticket size will range from Rs 150-250 crore, focusing on attractive entry points for decent returns. The firm has a robust pipeline, including secondary-led pre-IPOs, single and multi-asset secondary deals, and special situations.
Additionally, as per media reports, the firm is also developing a healthcare fund, with its second investment close to completion and a third term sheet signed. An early-stage venture fund and a fourth pre-IPO fund are planned for the coming months.
360 ONE Asset manages USD 8.7 billion in assets and is part of the 360 ONE group, which oversees USD 56 billion in assets. The firm has over 100 portfolio companies, including 30 unicorns. Last year, it launched its first multi-asset fund and now aims to cover all funding stages from early and mid-stage to pre-IPO and late stage, alongside the new secondary fund.
