Fund launches & closures

Bay Capital Partners launches India fixed-income strategy

by

India’s Bay Capital Partners has launched an India fixed-income fund targeting a yearly return in excess of 10%. Siddharth Mehta, founder of Bay Capital, says the fund – which started in October – will pursue a top-down approach, building a portfolio of some 10-15 positions in debt instruments with a minimum double-A rating.

Mehta says the confluence of events in recent months – including aggressive rate tightening, an anticipated global slowdown and the depreciation of the Indian currency – is conducive to building exposure to fixed income in India.

Before Bay Capital – which is a long-term investor