Bay Capital eyes Rs 5,000 crore AUM from its first, open-ended AIF

Bay Capital Investment Advisors, an India-focused investment manager, is expecting to garner Rs 5,000 crore in AUM 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, digitization, financialization, and i-outsourcing.

The AIF may also selectively buy securities of late-stage pre-IPO companies and is agnostic across sectors and market capitalization, 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.