Artha Global Opportunities Fund, a Rs 5,000-crore Category III Alternative Investment Fund (AIF) based in GIFT City, has announced its first private credit investment in India, allocating Rs 700 crore to support the Phoenix Triton project in Hyderabad.

The 2.8 million sq. ft. commercial real estate project, located on a 3.15-acre land parcel, will be funded through a four-year non-convertible debenture (NCD) structure. This maiden investment adopts a variable return model directly linked to the project’s sales performance, incorporating a floor and cap interest rate. The model is designed to reduce cash flow pressure on the developer while offering upside potential to investors.

“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 real-world challenges faced by Indian entrepreneurs,” said Sachin Sawrikar, Managing Partner of Artha Bharat Investment Managers IFSC. “This structured funding for the Phoenix Global Spaces project will provide last-mile financing for a Grade A project nearing completion,” he added.