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India's 360 ONE Targets $500M for Latest Private Credit Fund

India's 360 ONE Asset Management is seeking to raise up to $500 million for its sixth private credit fund, signaling strong investor confidence in Indian credit markets despite global fundraising headwinds.

The effort reflects sustained appetite for private credit exposure in India, where major corporations continue expanding operations. Adani Power, the country's largest private thermal power producer, is separately raising 80 billion rupees ($836 million) through domestic debt markets to fund capacity growth.

Private credit vehicles globally remain active despite slower fundraising cycles. A Blue Owl Capital fund recently completed a $400 million investment-grade bond sale, while a Blackstone-led consortium of private credit investors is restructuring software company Medallia with at least $100 million in fresh capital.

The fundraising activity underscores private credit's role in addressing capital needs across infrastructure, technology and traditional industries.