Artha Global Opportunities Fund, one of the largest Category III Alternative Investment Funds (AIFs) operating out of GIFT City, has announced its debut private credit investment in India. The fund has invested INR 700 crore to fund the completion of Phoenix Triton; a 2.8 million square feet commercial real estate project located in Hyderabad’s thriving financial district.
Structured as a four-year non-convertible debenture (NCD), this investment introduces a pioneering variable return model directly linked to the project’s sales performance. With a floor and cap interest rate, the returns mirror the project's revenue cycles, effectively easing cash flow pressures on the developer while offering attractive upside potential for investors.
“As we debut the first private credit investment from our over Rs 5000 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,” said Sachin Sawrikar, Managing Partner, Artha Bharat Investment Managers IFSC LLP.
The legal framework and documentation for the transaction were managed by AZB & Partners, while BSR & Co (KPMG India) advised on tax structuring.
This investment forms part of Artha Global’s three-pronged strategy, which includes:
- Investing in distressed assets in India and globally,
- Providing private credit to profitable Indian businesses requiring flexible capital, and
- Active PE-style investments, including venture debt.
Phoenix Global Spaces, a key player in Hyderabad’s real estate sector for over 24 years, claims a commanding 40% market share. Its latest development, Phoenix Triton, is set on a 3.15-acre site and will feature a G+41 floor LEED Gold-certified tower designed to appeal to modern corporate occupiers. The project incorporates smart technologies, double-height lobbies, landscaped gardens, and sky lounges with panoramic views. Other planned amenities include a Clubhouse, Sports Arena, Business Centre, 100% power back-up, and 24x7 water supply supported by rainwater harvesting and sewage treatment systems. Once completed, Phoenix Triton is expected to emerge as a premier address for Grade-A office space, reinforcing Hyderabad’s status as a top-tier business hub.
“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,” said Sawrikar. The transaction highlights Artha Global's commitment to supporting real-economy businesses with bespoke capital structures that align with project realities.
Artha Global Opportunities Fund was the first distressed asset Category III AIF registered as a Foreign Portfolio Investor (FPI) with SEBI to relocate from Mauritius to India. Today, it stands among the top 10 fund managers in GIFT City by AUM, office footprint, and employee strength.
With this investment, Artha Global signals a new era in India’s private credit landscape—one that combines innovative structuring with sectoral insight to create solutions that are both growth-enabling for entrepreneurs and rewarding for investors.
