(Bloomberg) -- A $6.8 billion vehicle set up by SoftBank Vision Fund’s key architect Rajeev Misra is seeking further capital commitments from investors to push into structured credit as part of a strategy to generate double-digit returns, according to people familiar with the matter.

One Investment Management is aiming for annualized returns in the low- to mid-teens, the people said, asking not to be identified because the information is private. The firm is seeking to boost the size of its fund to more than $10 billion for its second close, according to the people.

The fund will primarily invest in structured credit across verticals, including financial services, real estate, and industrials, they said. Talks are ongoing and no final decisions have been made. 

“We are bound by strict marketing rules regarding fundraising matters. The information put to us by Bloomberg is factually incorrect,” OneIM said in a statement, without disclosing any details.

OneIM was started last year by Misra, a former Deutsche Bank AG trader. It aims to add roughly 20 staff to an existing team of about 30 across offices in London, the US and the Middle East, Bloomberg reported in August.

The fund completed a first close earlier this year, Bloomberg News has reported, from backers including Mubadala Investment Co. and Royal Group — an Abu Dhabi conglomerate led by Sheikh Tahnoon Bin Zayed Al Nahyan, who’s national security adviser of the United Arab Emirates and brother to the President.  

Misra and his OneIM deputies previously managed the Vision Fund, the Japanese telecom firm’s splashy $100 billion arrival as the world’s largest tech investor. Some of the fund’s bets have left investors nursing billions in losses.

The Vision Fund lost $1.7 billion in the three months through the end of September, including declines in the value of holdings such as SenseTime Group Inc., AutoStore Holdings Ltd. and Symbotic. This month, it wrote down the value of WeWork Inc., as the once high-flying firm — which once commanded a $47 billion valuation — filed for bankruptcy.

More successful bets include investments in Chinese internet giant Alibaba Group Holding Ltd. and South Korea’s Coupang Inc.

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