Bay Capital Investment Advisors, an India-focused investment manager, is expecting to garner Rs 5,000 crore in AUM (asset under management) from its maiden equity, long-only, category III open-ended AIF, over the next five years.
The fund would seek to generate long-term capital appreciation by investing in a diversified portfolio of up to 30 businesses across consumption, digitisation, financialisation and i-outsourcing.
The AIF may also selectively buy securities of late-stage pre-IPO (initial public offering) companies and is agnostic across sectors and market capitalisation, the company said in a statement.
Bay has also launched a specialized portfolio management scheme, Ritwick Ghoshal, the managing partner and chief executive of Bay Capital said.
Bay Capital Investment Advisors is also an advisor to Bay Capital Partners, which has offices in Mauritius and London. Its India fund, launched in 2014 has an AUM in excess of $700 million now.