Global alternative asset manager Investcorp has held a final close for IDFC Private Equity Fund IV with INR10 billion (approximately USD145 million) in commitments. Investors in the fund include high-net worth individuals and international institutional investors. Investcorp took over management of the fund, which held a first close in 2016, following the firm’s acquisition of the private equity and real estate business of India-focused fund manager IDFC Alternatives in January 2019. The fund will target growth-stage opportunities from first-generation entrepreneurs in India.