Mumbai, Nov. 18 -- Ascertis Credit has launched its fourth private credit fund, targeting $1 billion, with over half already raised, as the investment firm seeks to back high-growth businesses in India and Southeast Asia.

The fund has raised $520 million in its first close from a diverse mix of existing and new institutional investors, family offices, and high-net-worth individuals across global markets and India, the firm stated on Tuesday.

The firm remains focused on providing customized, long-term performing credit solutions, primarily across services, infrastructure, and manufacturing, with an emphasis on delivering low-volatility, attractive risk-adjusted returns for investors, it added.

A bulk of the capital raised will be invest...