Hamsa Asset Management Launching India’s first Renewable Energy Fund

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Chennai-based Hamsa Asset Management Pvt Ltd provides its investors a hassle-free approach to invest in renewable energy projects. Hamsa is launching India’s first renewable energy Alternative Investment Fund (AIF). 

It is making renewable energy accessible by providing a unique opportunity to invest in India’s first Renewable Energy AIF with a target 15% Equity IRR (internal rate of return) to investors (pre-tax) over 10 years and has an impact in accelerating the deployment of solar assets across commercial and industrial sectors. 

TIME FRAME & FEES

It gives a time frame for the fund length of 10 + 2 years and an investment period of 60 months from final close. It will charge a 2% management fee with a 20% carry (with catch-up) along with an IRR hurdle of 12%. 

FUND SIZE & MINIMUMS

The first close is 18 months from launch with a minimum size of Rs. 20 crores while the final close is 36 months from launch with a target size of Rs. 50 crores. There is also a green-shoe option of an additional Rs. 20 crores. The minimum investment for participation is Rs. 1 Crore. 

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TARGET RETURNS

All opportunities evaluated to deliver an unleveraged project IRR greater than 16%, with an additional leverage portfolio for an overall project IRR greater than 19%. 

The AIF has been structured to provide annualized equity returns greater than 15%. The hurdle rate has been set to 12%. Hamsa uses insurance, contracts, and other risk mitigation mechanisms to secure the investment. 

Renewable energy offers a non-cyclical investment opportunity that doesn’t have the ups and downs of the economic cycles. It offers an annuity-style return to diversify investors’ portfolios. That’s why renewable energy AIF is important. 

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Distributed Energy is a venture-backed development and aggregation platform that connects renewable projects with funders and entrepreneurs Arjun Santhanakrishnan and Anish Shankar. They will be the Infrastructure Manager for this AIF. 

Hamsa Alternate Investment Fund Trust was launched this month with an INR 50-crore investment offering through its first fund, Hamsa Solar Fund I (Fund), after getting SEBI’s approval.