The fund was launched in February 2017 to generate long-term capital appreciation through investment in equity and equity related instruments of to-be listed companies.
IIFL Special Opportunities Fund is a close ended scheme under Category II Alternative Investment Fund. The fund, by raising a commitment amount of $250 million within just three months of launch, makes it one of the largest collection from an AIF fund so far. Following the success of the first Series, the company has plans to launch IIFL Special Opportunities Fund - Series 2, IIFL said.
"We provide a plethora of differentiated innovative products across asset classes backed by strong holistic research. Within this space, we are one of the largest players across asset classes, whether real estate, fixed income or equities. IIFL Special Opportunities Fund is a unique offering focusing on pre-IPO and IPO space which has been introduced in India for the first time," IIFL Asset Management business CEO Amit Shah said.
"Over the last few years IPO makers have done very well and many IPOs have given triple digit returns. However investors have found it difficult to access the IPO markets and benefit from it. IIFL Special Opportunities Fund is the first attempt to create an organised pool of capital to access this market. We are excited to be the first asset management company to introduce this unique offering to the investor community, "IIFL Asset Management business chief investment officer Prashasta Seth said.