Synergy Capital
Synergy Capital is a DIFC-regulated alternative investment manager deploying private credit and private equity across industrial and infrastructure opportunities in Asia. It serves Professional Clients and institutional investors with $1.1bn AUM across 30 investments.
- Company typePrivate
- Founded2015
- HeadquartersDubai, United Arab Emirates
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Synergy Capital does
Synergy Capital is a Dubai-based, DFSA-regulated alternative investment manager operating as Synergy Management (DIFC) Limited. Founded in 2015 and headquartered in the Dubai International Financial Centre, the firm runs a bespoke platform focused on industrial and infrastructure opportunities across Asia — with a strategic emphasis on India — investing across the full credit spectrum in both private credit and private equity. As of May 2026, the firm manages $1.1bn in AUM, has deployed $2.5bn+ including co-investors across 30 investments in 15 countries, and reports 15 exits with a zero-credit-loss track record. The 35-person team is led by Founder and Managing Partner Sudhir Maheshwari (27 years at ArcelorMittal, including Group Management Board tenure), with senior partners drawn from Morgan Stanley, Macquarie, GE Capital, PwC, EY, Tata Steel, and Steel Authority of India.
The firm operates three integrated product lines: flagship private credit funds (with Fund III currently targeting a $1bn capital raise), a Strategic Advisory arm, and a newly launched M&A Advisory and Investment Banking practice led by Partner Raj Khatri since March 2026. Revenue is generated through recurring fund management fees on AUM, carried interest and performance fees on successful exits, and project-based advisory fees. Distribution is direct-to-institution: Synergy targets DFSA-classified Professional Clients — asset owners, family offices, sovereign wealth funds, development finance institutions, and pension funds — and industrial and infrastructure corporates, with no intermediary channel. The firm holds a DFSA Category 3C License, has been a UN PRI signatory since February 2021, and maintains offices in Dubai, Singapore, and Mumbai.
The business model is relationship-intensive and sector-specialist: the leadership's deep operating experience in steel, mining, and infrastructure (much of it originating from ArcelorMittal and Indian public-sector steel) is positioned as an "owner-operator" differentiator versus generalist capital providers. Fund management fees on $1.1bn AUM are the most visible revenue stream, with the M&A Advisory practice representing a deliberate diversification of fee sources away from management fees and carried interest. The firm is privately held and founder-controlled under Sudhir Maheshwari, with no external institutional ownership disclosed.
Synergy Capital firmographics
Firmographics- Name
- Synergy Capital
- Legal name
- Synergy Management (DIFC) Limited
- Website
- https://synergycapital.co.uk
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Synergy Capital is a DIFC-regulated alternative investment manager deploying private credit and private equity across industrial and infrastructure opportunities in Asia. It serves Professional Clients and institutional investors with $1.1bn AUM across 30 investments.
- Ownership category
- akta.pro rank
Synergy Capital industry classification
Industry- Product category
- Alternative Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Investment Banking and Securities Intermediation (523150)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Private Credit / Direct Lending (FSAAAHAG)
- akta.pro secondary industries
- Senior Secured Direct Lending (FSANADAA), Co-Investment / Direct Allocation Platforms (alongside FoF) (FSANAGAK), Private Credit & Direct Lending Fundraising Placement (FSAEALAE)
Keywords
Where Synergy Capital is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices4 records
Markets served
Synergy Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Fund Management Fees: Management fees from managing private credit and private equity funds including Fund III targeting $1 billion capital raise. The firm manages $1.1bn AUM across debt and equity investments in industrial and infrastructure opportunities.
- Performance Fees / Carried Interest: Carried interest and performance-based fees from successful fund investments. The firm has delivered 15 exits and maintains a zero-credit-loss record, indicating potential performance fee generation.
- Strategic Advisory Fees: M&A advisory and investment banking fees from the newly established practice led by Raj Khatri. The firm offers curated and structured solutions through its strategic advisory arm for corporate finance matters.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Synergy Capital product offering
Product offeringCore offering
Synergy Capital is a bespoke alternative investment platform specialising in industrial and infrastructure opportunities across both the debt and equity spectrum. The firm manages private credit funds (including Fund III targeting a $1 billion capital raise) and private equity investments, complemented by a strategic advisory arm that delivers curated and structured financial advisory solutions and a newly established M&A Advisory and Investment Banking practice. Together these offerings blend private credit and private equity exposure for asset owners and businesses navigating opportunities beyond traditional financing.
Product overview
Synergy Capital operates as a bespoke alternative investment platform offering a unified portfolio of products across private credit, private equity, and strategic advisory. The core offering consists of Fund III (its flagship private credit fund targeting $1 billion), supported by predecessor private credit funds, all investing across the debt and equity spectrum in industrial and infrastructure opportunities. The platform is enhanced by its Strategic Advisory arm providing curated financial solutions, and a newly launched M&A Advisory and Investment Banking practice that deepens the integrated platform. Together these products deliver comprehensive capital solutions blending private credit and private equity exposure for asset owners and businesses.
Differentiator
Problem solved
Functional benefit
Products and services
- Fund III (Private Credit Fund) Flagship private credit fund targeting a $1 billion capital raise, designed to deliver disciplined investments across diverse Asian markets building on the success of predecessor funds; aimed at Professional Clients and institutional investors seeking Asia-focused industrial and infrastructure private credit exposure.
- Predecessor Private Credit Funds (Fund I and Fund II) Earlier private credit funds managed by Synergy Capital that delivered the investment track record underlying Fund III, deploying capital across industrial and infrastructure opportunities in Asia.
- Private Equity Investments Equity investments across industrial and infrastructure opportunities in Asia, integrated with the firm's private credit capabilities to deliver blended capital solutions beyond traditional financing; targeted at businesses and asset owners seeking operational and financial capital.
- Strategic Advisory Curated and structured financial advisory solutions offered through Synergy Capital's strategic advisory arm, providing bespoke guidance across the investment lifecycle for corporate clients and asset owners.
- M&A Advisory and Investment Banking Newly established practice providing investment banking and M&A advisory services led by Partner Raj Khatri, advising corporations, boards, and senior executives on strategic transactions and complex corporate finance matters.
Quantifiable outcome
- 30 investments completed with $2.5bn+ deployed capital
- +3 more outcomes
Companies that use Synergy Capital
Customer profileSegments3 records
Ideal customer profiles3 records
Synergy Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Synergy Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- United Nations Principles for Responsible Investment (PRI)coreSynergy Capital became the first alternative investment fund in the Middle East to sign the UN-sponsored Principles for Responsible Investment in February 2021. The firm is committed to implementing PRI's Six Principles to align investment activities with wider stakeholder interests, taking into account the ten principles of the UN Global Compact including human rights protection and elimination of forced labour.
Scale indicators12 records
Recent moves7 records
Expansion highlights5 records
Synergy Capital competitors and assessment
Company assessmentBroad incumbents
- KKR & Co. Global alternative asset manager with significant Asia private credit and infrastructure platforms. Comparable as a much larger incumbent in private credit and infrastructure, competing for the same institutional LP capital and deal flow.
- Apollo Global Management: Global alternative asset manager with a dominant private credit franchise (Apollo Credit) and Asia operations. Comparable as a scaled incumbent in private credit and direct lending that competes for institutional LP mandates.
- Brookfield Asset Management: Global alternative asset manager with the largest infrastructure and renewables platforms, including significant Asia and India exposure. Comparable as a scaled incumbent in infrastructure investing competing for the same deal flow and LP relationships.
- The Carlyle Group: Global alternative asset manager with dedicated Asia infrastructure and credit strategies. Comparable as a broad incumbent in private credit, infrastructure, and cross-border M&A advisory that competes in the same LP and deal pool.
Direct peers
- Navis Capital Partners: Southeast Asia-focused private equity firm investing in growth and mid-market industrials, consumer, and services. Comparable as an Asia regional alternative asset manager with industrial and infrastructure exposure.
- Actis: London-based emerging markets private equity and infrastructure investor focused on energy, infrastructure, and industrial sectors across Africa, Asia, and Latin America. Highly comparable to Synergy in its EM infrastructure mandate, sector specialization, and institutional LP base.
- I Squared Capital: Global infrastructure private equity firm with significant Asia and India focus, deploying capital across energy, utilities, and infrastructure. Comparable to Synergy's infrastructure-heavy mandate and direct-investing model.
- Affirma Capital: Asia-focused private equity firm (formerly Standard Chartered Private Equity) investing across consumer, industrials, and financial services in South and Southeast Asia. Comparable as an Asia specialist mid-market alternative asset manager.
- Eversource Capital: India-focused climate and sustainability investment platform backed by Everstone Group and Lightsource bp. Directly comparable as an Asia/India infrastructure and industrials investor with integrated private credit and equity capabilities.
Regional players
- National Infrastructure Investment Fund (NIIF): India's sovereign-backed infrastructure investment platform. Comparable as an India-focused infrastructure investor with similar sector mandate and access to institutional capital, representing direct competition for India infrastructure opportunities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Synergy Capital social profiles
Digital presenceSynergy Capital compliance and trust
Trust signalCompliance3 records
Synergy Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Synergy Capital leadership team
Management profileNumber of profiles
Profiles19 records
Synergy Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Synergy Capital M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Synergy Capital
What does Synergy Capital do?
Synergy Capital is a bespoke alternative investment platform specialising in industrial and infrastructure opportunities across both the debt and equity spectrum. The firm manages private credit funds (including Fund III targeting a $1 billion capital raise) and private equity investments, complemented by a strategic advisory arm that delivers curated and structured financial advisory solutions and a newly established M&A Advisory and Investment Banking practice. Together these offerings blend private credit and private equity exposure for asset owners and businesses navigating opportunities beyond traditional financing.
Is Synergy Capital a public or private company?
Synergy Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Synergy Capital founded?
Synergy Capital was founded in 2015. It employs 11 to 50 people.
Where is Synergy Capital based?
Synergy Capital is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does Synergy Capital make money?
Three revenue lines are on record. Fund Management Fees are the primary driver. The others are performance Fees / Carried Interest and strategic Advisory Fees.
Who are Synergy Capital's main competitors?
Broad incumbents on record are KKR & Co., Apollo Global Management, Brookfield Asset Management and The Carlyle Group. Direct peers are Navis Capital Partners, Actis, I Squared Capital, Affirma Capital and Eversource Capital. National Infrastructure Investment Fund (NIIF) is listed as a regional player.
Does Synergy Capital have an API?
No public API is recorded for Synergy Capital.
What industry is Synergy Capital in?
Synergy Capital's product category is Alternative Asset Management. Its primary akta.pro industry code is FSAAAHAG, Private Credit / Direct Lending, with a secondary code of FSANADAA, Senior Secured Direct Lending. Its NAICS code is 523940 and its SIC code is 6282.