Special Opportunities Fund is the India-based fund, which will be dedicated to investing in companies during their pre-IPO and IPO phase. The company had raised $250 million in the first series of this fund that was launched in May 2017. IIFL Special Opportunities Fund – Series 2 is a close-ended scheme under Category II Alternative Investment Fund (AIF). The fund seeks to generate long-term capital appreciation through investment in equity and equity-related instruments of to-be listed companies. Typically, private equity funds invest in unlisted securities, which are likely to be listed in 5 years. However, IIFL Special Opportunity Fund would invest in securities, which would be listed within 6-12 months. Amit Shah, CEO of IIFL Asset Management Business said, “The huge success of IIFL Special Opportunities Fund prompted us to launch Series 2. Overwhelming demand by investors coupled with increasing investment avenues given the healthy IPO pipeline has resulted in rising confidence in such a unique product offering. Our AIFs offer our investors various opportunities to invest in securities that are otherwise unavailable to most investors.”
Prashasta Seth, CIO of IIFL Asset Management Business said, “We are seeing a host of opportunities in the IPO segment over the last few months. We are excited to be the first asset management company to introduce this unique offering to the investor community in India. Through our AIFs, investors augment their portfolios with investments in untapped and niche opportunities.” IIFL Special Opportunities Fund – Series 2 has raised such a commitment amount within just two months of its launch making it one of the largest collection from an AIF in India.