Our Mandate
and Philosophy
Run a focussed strategy executed with precision.
Tavasya acquires stressed loans and securities below intrinsic value, acquires companies as a resolution applicant under the IBC, and co-invests alongside successful resolution applicants where its capital and capability accelerate the outcome.
It is this pitch, between distressed pricing and intrinsic value, which Tavasya calls home ground. The Fund does not depend upon market cycles for its returns. It generates them through resolution.
Four principles govern every rupee of investor capital.
- 01
Acquisition below intrinsic value. A lower entry price is the most durable form of downside protection. Each transaction is structured to secure asset cover at a multiple of capital invested, value that persists irrespective of the pace of resolution.
- 02
Alignment of Investor Economics. A hurdle rate of 14% IRR with no catch-up. Carry earned solely above the hurdle. The Fund is rewarded only after its investors are.
- 03
Accelerated return of capital. The velocity of capital return, as much as the profit realised, determines an investor's returns. Tavasya structures its investments for early redemption, and the resulting advantage compounds materially in the investor's favour.
- 04
Skin in the game. Tavasya's sponsor commitment in the Fund's latest scheme stands at over 6 times the SEBI-mandated minimum, capital exposed to the same outcomes as every investor's, and returned no sooner. Alignment is no longer a claim, it is a fact of the balance sheet.