Alpha Alternatives

What Alpha Alternatives does

Alpha Alternatives is a Mumbai-headquartered, privately held multi-asset alternative investment management firm founded in 2013 by Naresh Kothari. The firm serves high-net-worth individuals, family offices, and domestic and international institutional investors (including insurers, pension funds, and sovereign entities) through three product spectrums — Risk, Return, and Liquidity — operating across 13 investment products grouped as Liquid Alts (absolute return strategies with monthly liquidity), Illiquid Alts (longer-horizon, high-yielding vehicles such as structured credit and infrastructure), and Beta++ (smart-beta and dynamic risk-allocation strategies). Specialized offerings include Systematic Equity, Fixed Income, Commodities Fund, Options Trading, Deep Value Solutions, and the Anantam Highways Trust InvIT. The firm holds multiple SEBI registrations covering Portfolio Management Services (INP000006518), Investment Advisory (INA000016171), Alternative Investment Fund Category II, and Category III vehicles, and operates through nine wholly-owned subsidiaries plus a Singapore regional entity.

The underlying platform combines quantitative trading systems, systematic equity models, and fundamental research across liquid and illiquid alternatives. The firm operates a performance-led fee model — fixed management fees on AUM plus performance fees with hurdle rate structures — billed annually across PMS, AIF, and IA mandates. Distribution is direct-to-client with a dedicated investor relations team; five out of six of its 550 investors joined via referrals, evidencing high organic pull-through. Revenue and AUM signals are strong: wholly-owned subsidiary Alpha Alternatives Financial Services Pvt Ltd reported annual sales of Rs 797.72 crore for FY2026, the Structured Credit Opportunities Fund closed at INR 5,500+ crores in total commitments, and the firm executed a Rs 1,250 crore real estate commitment and $267M infrastructure acquisition talks during 2026. The leadership team of 20 partners is drawn from IIM Ahmedabad, McKinsey, Morgan Stanley, Edelweiss, Citadel, BlackRock, and Barclays.

Name

Alpha Alternatives

Legal name

Alpha Alternatives Holdings Private Limited

Website

https://alt-alpha.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

Alpha Alternatives is a Mumbai-based multi-asset alternative investment platform founded in 2013, offering 13 investment products across liquid, illiquid, and beta++ strategies to high-net-worth individuals, family offices, and institutional investors in India and Singapore.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Investment Banking and Securities Intermediation (523150)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Managed Account Platforms (Separately Managed Accounts / Customized Portfolios) (FSAHAKAC)

akta.pro secondary industries

Alternative Mutual Funds (Liquid Alts) (FSAAAEAH), Quant Equity Stat Arb (Market-Neutral, Pairs, Factor/Alpha Models) (FSAHAEAA)

Keywords

• Alternative asset management
• Portfolio management services
• Alternative investment funds
• Wealth management solutions
• Multi-asset investments

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: Fixed management fees charged on assets under management across various fund vehicles including PMS, AIFs, and investment advisory services
2. Performance Fees: Performance-based fees (hurdle rate structures) on returns generated above specified benchmarks for alternative investment funds
3. Alternative Asset Management: Revenue from managing alternative investment funds across absolute return, commodities, credit, quant strategies, real estate, and fixed income asset classes

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Alpha Alternatives is a SEBI-registered multi-asset alternative investment platform that manages client capital across liquid alternatives (absolute return strategies with monthly liquidity), illiquid alternatives (long-horizon high-yielding strategies), and Beta++ (smart beta and dynamic risk allocation). It also runs specialized strategies in commodities, fixed income, systematic equity, options, structured credit, infrastructure (via Anantam Highways Trust InvIT), and deep value solutions, charging a combination of fixed management fees and performance fees.

Product overview

Alpha Alternatives is India's leading multi-asset alternative investment platform offering a comprehensive suite of investment solutions classified across three spectrums: Risk, Return, and Liquidity. The platform operates as a diversified alternatives business with three main product categories: Liquid Alts (absolute return strategies with monthly liquidity), Illiquid Alts (high-yielding long-term investments), and Beta++ (smart beta and dynamic risk allocation strategies). The firm also manages specialized products including Anantam Highways Trust (InvIT), Systematic Equity, Fixed Income, Commodities Fund, Options Trading, Structured Credit Opportunities Fund, and Infrastructure Fund. Additional offerings include Alpha Academy for investor education and Alpha Alternatives Singapore for international operations. The platform is built on a performance-led model rather than AUM-led approach.

Differentiator

Problem solved

Functional benefit

Products and services

• Liquid Alts Absolute return strategies targeting consistent monthly or quarterly positive returns with monthly liquidity, designed for investors seeking stable performance across market cycles.
• Illiquid Alts High-yielding investments with consistent returns, rigorous risk management, and longer investment horizons for wealth creation over extended periods.
• Beta++ Market-correlated strategies combining Smart Beta security selection with Dynamic Risk allocation models to deliver alpha generation alongside market exposure.
• Systematic Equity Quantitative trading and systematic equity investing using mathematical models and algorithmic strategies.
• Commodities Fund Category III Alternative Investment Fund focused on commodities trading and investment strategies; India's first commodity-focused Category III AIF.
• Fixed Income Fixed income investment strategies spanning global and domestic macro markets, investment-grade and high-yield corporate debt, and currency management.
• Options Trading Options trading strategies delivering high risk-weighted returns through proprietary option pricing strategies.
• Structured Credit Opportunities Fund Structured credit investment fund providing innovative financing solutions for Indian corporations and PSU banks.
• Infrastructure Fund Infrastructure fund investing in roads, power, and other infrastructure sectors.
• Deep Value Solutions Deep value equity investing focused on identifying undervalued securities with significant upside potential.
• Anantam Highways Trust Infrastructure Investment Trust (InvIT) focused on holding HAM (Hybrid Annuity Model) road assets and generating predictable long-term cash flows from highway infrastructure.

Quantifiable outcome

• 550 investors with 5/6 from referrals
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Dilip BuildconcoreStrategic or Co-development Partner · 3 May 2026Formation of Anantam Highways Trust, an InvIT in partnership with Alpha Alternatives Holding Private Ltd, to hold HAM (Hybrid Annuity Model) road assets. The InvIT is sponsored by Alpha Alternatives Fund Advisors and Dilip Buildcon, generating predictable long-term cash flows from highway infrastructure assets.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• ASK Investment Managers: One of India's largest privately-held wealth and asset management firms managing PMS, AIFs, and portfolio advisory services for HNIs and institutions. Highly comparable to Alpha Alternatives as a multi-product alternative investment platform serving Indian HNW and family office clients.
• Kotak Alternate Asset Managers: Kotak Mahindra Group's alternatives arm offering real estate, infrastructure, private equity, and special situations funds. Comparable multi-strategy alternative platform with PMS and AIF offerings for HNIs and institutions in India.
• Motilal Oswal Alternative Investment Advisors: Alternate investment arm of Motilal Oswal offering PMS, AIFs, and real estate funds. Comparable Indian alternatives manager with similar product breadth (real estate, structured credit, equity) and HNI focus.
• IIFL Asset Management: IIFL Group's alternatives business managing PMS, AIFs, and offshore funds across real estate, infrastructure, and credit. Comparable multi-product Indian alternative platform serving HNI and institutional segments.
• Avendus Capital Public Markets Alternate Strategies: Indian alternatives platform offering PMS, AIFs, and offshore strategies with focus on public market alpha and structured products. Comparable to Alpha's liquid alts and quant capabilities.

Broad incumbents

• Reliance AIF (Reliance Capital): Large Indian financial group's alternative investment arm offering AIFs and PMS. Operates as a wider portfolio player within alternatives, overlapping with Alpha in PMS/AIF categories.
• Nippon Life India AIF: Nippon Life Insurance Group's India asset management arm offering AIF and alternative investment products. Broad incumbent in Indian alternatives with similar product overlap.
• HDFC AMC (alternatives business): HDFC Group's mutual fund arm that has expanded into alternatives (real estate, credit, equity AIFs). Large incumbent with comparable product set serving Indian HNW and institutional clients.

Emerging players

• ChrysCapital: India-focused private equity firm with growing credit and special situations strategies. Comparable in deploying Indian institutional capital into alternative asset classes like Alpha's structured credit and infrastructure.

Others

• Edelweiss Alternative Asset Advisors: Alternative asset management arm of Edelweiss Financial Services — Alpha Alternatives' founder Naresh Kothari previously served as President of Edelweiss's Alternative Asset business. Highly relevant historical and personnel-linked comparable.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/alpha-alternatives
• Xx.com/ReimagineAlpha

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries10 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alpha Alternatives