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.

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.

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.

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.

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.

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.

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.