India’s 360 ONE Asset Management is seeking to raise as much as $500 million for its sixth private credit fund, according to people familiar with the transaction, underscoring sustained investor appetite in the country even as fundraising slows elsewhere.

The fund may launch as early as June and is expected to target investors including wealthy individuals and family offices in India, as well as overseas institutions, the people said, asking not to be identified because the discussions are private.

360 ONE Asset didn’t immediately reply to an email seeking comment. 

The launch comes amid a slowdown in the $1.8 trillion private credit markets, fueled by concerns about loan quality and exposure to software borrowers, which may face disruption from advances in artificial intelligence. 

In India, however, fundraising has remained resilient. Last week, Lighthouse Canton launched a fund seeking to raise 12 billion rupees, while InCred Alternative Investments in April closed its first special situations credit fund at 15 billion rupees.

In March, 360 ONE Asset closed its fifth fund with a size of about $400 million. Proceeds from the new fund will be used to finance mid-sized firms and special situations, including acquisition financing, refinancing and stake buyouts from existing investors, the people said.

The firm’s alternatives business — spanning private credit, real estate and private equity strategies — expanded 23 per cent to 5.8 trillion rupees ($60 billion) at the end of the financial year 2026, according to company data.

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Published on May 19, 2026