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The Client Associates Alternate Fund (CAAF), Client Associates' inaugural fund, has announced its first close. After 22 years of achievements, Client Associates is currently serving more than 1100 relationships with HNIs and UHNIs families in India and managing assets under advisory (AUA) worth over $5.5 billion. Client Associates is currently aiming to attain full commitments of up to ~Rs 500 crores by exercising the green shoe option of Rs 200 crores and finishing the same during the ongoing financial year, following the initial close at roughly Rs 300 crores of the company's AIF Cat II. Client Associates hopes to further solidify and amplify its standing as a wise investor in the Indian investing scene with this endeavour.

Himanshu Kohli, co-founder of Client Associates, thanked everyone and said, "We are excited to be entering the asset management space with CAAF. It is a big step forward for us. We are appreciative of our client's faith in our expertise, which has allowed us to close the first deal quickly. In this new adventure, we're still dedicated to providing our clients with superior results."

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"CAAF's investment strategy is designed to capitalise on the immense potential of India's startup ecosystem," stated Shivam Diwan, Executive Director, CA Alternate Funds, Client Associates. "The chance to collaborate with essentially solid companies that have a track record of operational excellence excites us. In addition to providing our clients with strong returns, our goal is to advance the expansion and improvement of the ecosystem as a whole," he added.

The investment strategy of CAAF is centred on finding and assisting firms in the pre-Series A, Series A, pre-Series B, and Series B stages that are mostly in the financial services and consumer and consumer-related industries. With projected investments ranging from Rs 10 to Rs 50 crore per company, the fund seeks to build a strong portfolio of 12–15 carefully chosen enterprises. Additionally, if it believes there may be potential for its Limited Partners (LPs) to create value, CAAF will carefully investigate later-stage opportunities (pre-IPO).

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Strong interest in and involvement in the fund has been shown by domestic family offices and Ultra High-Net-Worth Individuals (UHNIs), who are mostly composed of Client Associates with whom the fund already has a relationship. Client Associates further solidifies its position as a major participant in the Indian investment market by reiterating through CAAF its commitment to excellence and innovation in wealth management.