Systematix Group lists ₹2,000 crore category-II AIF plans

Systematix Group lists ₹2,000 crore across two category-II alternative investment fund (AIF) plans: the ₹1,000 crore India Equity Opportunities Fund and proposed ₹1,000 crore Systematix Real Estate Fund. This follows full subscription of its ₹125 crore India SME Growth Fund, which reported a data center platform exit generating about 148% internal rate of return (IRR).

What is Systematix’s ₹2,000 crore category-II AIF plan?

Systematix’s disclosed category-II plan consists of two close-ended funds with stated sizes of ₹1,000 crore each, making a combined ₹2,000 crore. The India Equity Opportunities Fund is shown with a May 2026 launch status and a ₹1,000 crore size that includes a ₹250 crore greenshoe option, while the Systematix Real Estate Fund is shown as proposed for October 2026 with a ₹1,000 crore size including a greenshoe option.

The two vehicles have distinct mandates rather than a single pooled strategy. India Equity Opportunities Fund is intended to invest growth capital in mid- and late-stage companies with established business models, with a minimum investment ticket of ₹1 crore. Systematix Real Estate Fund is intended to target premium residential projects with marquee top-10 developers, placing real estate alongside equity opportunities in Systematix’s stated alternative-fund-manager ambition.

On stated fund sizes, each category-II vehicle is eight times the ₹125 crore India SME Growth Fund. That comparison reflects planned or launched fund capacity, not assets invested, realised performance or money raised by the category-II funds. The India SME Growth Fund’s ₹125 crore size includes a ₹25 crore greenshoe option; the equity fund’s ₹1,000 crore size includes ₹250 crore of greenshoe capacity.

How did Systematix’s India SME Growth Fund perform?

Systematix reports that its close-ended India SME Growth Fund, launched in August 2025, is fully subscribed at its stated ₹125 crore size and has completed a data center platform exit that generated about 148% IRR. The presentation does not disclose the investment amount, holding period, exit value, number of exits or whether the cited IRR represents fund-level performance.

The SME fund’s stated remit spans seven sectors: data center, fast-moving consumer goods (FMCG), defence, financial technology (fintech), power, industrial engineering and façade solutions. Its minimum investment ticket is ₹1 crore, the same threshold stated for the ₹1,000 crore India Equity Opportunities Fund and the proposed category-III India Select Equity Fund.

The reported 148% IRR is an outcome attached to a data center platform exit, whereas the ₹1,000 crore category-II offerings are described through their intended mandates and launch timing. The presentation provides no return target, portfolio count, deployment level or realised exit data for either category-II fund.

How is Systematix changing its portfolio management services?

Systematix says it is relaunching its existing Dynamic Investment Portfolio portfolio management service (PMS) under a new entity and that the current structure will no longer accept fresh capital. As of 31 October 2026, the multi-cap PMS had about ₹207 crore of assets under management (AUM) and used a 25%-25%-50% allocation across large-, mid- and small-cap shares.

The reported annualised return figures for that legacy PMS were 20.6% compound annual growth rate (CAGR) over three years and 18.9% CAGR over five years. The three-year CAGR is 1.7 percentage points above the five-year figure, but the presentation does not provide a benchmark, annual return series, fee structure or the date from which each return period was measured beyond the 31 October 2026 data date.

Two additional PMS products are shown with July 2026 launch status. Systematic Emerging Leaders PMS uses the same 25%-25%-50% large-, mid- and small-cap allocation and holds 15 to 20 stocks, with a maximum 10% stock weight. Million to Billion PMS focuses on companies with market capitalisation below ₹10,000 crore, holds 15 to 25 stocks and also limits a single stock to a maximum 10% weight.

What does Systematix’s wealth platform show about distribution?

Systematix’s private-wealth operations reported about ₹13,300 crore of AUM and custody as of 31 October 2026 across group companies. The platform lists third-party distribution of mutual funds, AIFs and PMS products, as well as equity broking, insurance solutions, corporate-treasury and private-market solutions, offshore investments, and trust and estate planning.

The stated client segments are high-net-worth individuals, ultra-high-net-worth individuals and family offices, non-resident Indians and entrepreneurs, plus corporates and institutions. Compared with the ₹13,300 crore wealth-platform figure, the ₹2,000 crore category-II plan indicates a larger stated fund-size programme, although the presentation does not state how much of either fund will be sourced from existing wealth clients.

Systematix also cites a 15-plus-member investment team with more than 100 years of cumulative market experience for its PMS offerings, while its wealth platform cites senior bankers with more than 100 years of cumulative experience. These are team-experience disclosures rather than performance measures, and the presentation does not identify the investment committee, fund manager, fee terms or investment-period duration for the category-II AIFs.

What remains to be executed in Systematix’s AIF strategy?

Systematix still needs to demonstrate fundraising and deployment against the ₹1,000 crore fund plans. The India Equity Opportunities Fund is described as launched in May 2026, but the presentation gives no subscription status, corpus raised, investment count or deployed capital; the real-estate fund is labelled a proposed October 2026 launch and likewise has no fundraising or deployment figure.

A further pipeline product is the open-ended India Select Equity Fund, a category-III AIF proposed for October 2026. It has Securities and Exchange Board of India (SEBI) approval, a ₹1 crore minimum ticket and an equity-focused mandate, but the presentation provides no fund-size target. Its open-ended structure differs from the close-ended SME, equity-opportunities and real-estate funds.

Conclusion

Systematix has paired a disclosed SME-fund exit of about 148% IRR with a substantially larger ₹2,000 crore category-II AIF blueprint across growth equity and premium residential real estate. The scale change is visible in stated fund sizes: the ₹1,000 crore equity-opportunities and real-estate funds are each eight times the fully subscribed ₹125 crore SME fund, while the PMS line-up includes two products shown as launched in July 2026 and a legacy-structure relaunch.

What to watch next is disclosure on fundraising, deployment, portfolios and exits for the ₹1,000 crore India Equity Opportunities Fund. The presentation also labels October 2026 as the proposed launch timing for the ₹1,000 crore Systematix Real Estate Fund and the SEBI-approved India Select Equity Fund, so evidence of their launch outcomes remains relevant.