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Sarmaya Partners
Sarmaya Partners, founded in 2023 by Ashvin Murthy and Nitin Gupta, invests in private credit, real estate, and infrastructure dislocations from New York.
Sarmaya Partners
Sarmaya Partners was founded in New York in 2023 by Ashvin Murthy and Nitin Gupta. Murthy, the firm's Chief Investment Officer, previously held senior roles at Fortress Investment Group, while Gupta serves as President. The firm's name derives from the Hindi word for 'wealth' or 'capital,' signaling an orientation toward durable asset accumulation rather than fee-driven product proliferation. The firm deploys capital across private credit, real estate, and infrastructure, with a stated preference for structured, downside-protected positions. Sarmaya organizes its investment activity thematically — targeting sectors where bank retrenchment has created pricing inefficiencies. Within real estate, the firm focuses on asset-backed lending and structured equity in niche property types, including workforce housing and logistics. Its credit strategy emphasizes senior-secured lending to middle-market companies in non-cyclical industries. Infrastructure exposure has concentrated on digital infrastructure and energy transition assets, where long-dated contracts provide visible cash-flow profiles. In September 2023, Sarmaya Partners made its first publicized capital commitment, participating in a portfolio acquisition of legacy real estate loan positions from a regional bank (per public record). The firm operates from its New York headquarters and has structured its investment platform as a series of drawdown vehicles alongside separate managed accounts for institutional and family-office investors. Headcount and total commitments remain undisclosed. Murthy and Gupta have indicated a measured pace of deployment, prioritizing credit quality over volume. Sarmaya's structure blends elements of an investment manager with the patient-liability mindset more commonly associated with permanent capital vehicles. By launching without a legacy portfolio or mark-to-market pressures, the firm can structure commitments with longer duration than peers managing redemption-sensitive capital. That architecture — a clean-slate mandate in an environment of lender withdrawal — is the firm's primary structural differentiator.
General information
Firm type
Asset Manager
Year founded
2023
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Ashvin Murthy
Chief Investment Officer
Nitin Gupta
President
Sector focus
Frequently asked questions
Who runs investment decisions at Sarmaya Partners?
Ashvin Murthy serves as Chief Investment Officer and leads all investment decisions. Murthy previously worked at Fortress Investment Group, bringing institutional credit structuring experience to the firm. President Nitin Gupta oversees operations and firm strategy alongside Murthy.
What investment stages and asset classes does Sarmaya Partners target?
Sarmaya targets three primary asset classes: private credit, real estate, and infrastructure. Within private credit, the firm focuses on senior-secured lending to middle-market companies. Real estate activity centers on asset-backed lending and structured equity in workforce housing and logistics. Infrastructure exposure is concentrated in digital infrastructure and energy transition assets with contracted cash flows.
How does Sarmaya Partners source its deal flow?
Sarmaya sources opportunities thematically, targeting market segments where traditional bank lenders have pulled back. The firm's thesis relies on identifying supply-demand dislocations that create pricing power for non-bank capital providers. Specific sourcing channels have not been publicly detailed, though the firm's leadership combines Fortress-level institutional relationships with a targeted middle-market origination focus.
Is Sarmaya Partners structured as a single family office or an asset manager?
Sarmaya Partners is structured as an asset manager rather than a family office. Its platform comprises drawdown vehicles and separately managed accounts designed for institutional and family-office limited partners. The firm does not manage a single-family pool of capital.
What is Sarmaya Partners' posture on co-investments alongside external managers?
Sarmaya's co-investment posture has not been explicitly detailed in public disclosures. The firm's use of separate managed accounts suggests flexibility to accommodate co-investment alongside direct fund commitments, though the model trends toward primary direct origination rather than passive co-investment alongside larger GPs.
Does Sarmaya Partners maintain a philanthropic or impact-investing mandate?
No philanthropic or impact-investing mandate has been publicly disclosed. The firm describes its investment approach as return-driven, targeting dislocated markets on a risk-adjusted basis. Workforce housing and energy transition exposure reflects investment opportunity rather than a concessionary-return framework.
Where did the initial capital to launch Sarmaya Partners come from?
The source of Sarmaya's initial seed capital has not been publicly disclosed. The firm was launched in 2023 by Ashvin Murthy and Nitin Gupta, and the firm has not published details on anchor investors or initial commitments.
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