New Delhi, May 26 -- JM Financial Asset Management Ltd has launched a private credit fund with a target size of Rs 1,000 crore (around 105 million) and a greenshoe option of an equal amount.
The fund will invest in performing credit opportunities across sectors, targeting companies with stable cash flows, promoter track record and strong business fundamentals, the company said in a press release.
The announcement comes less than two weeks after VCCircle reported the asset manager's plan to launch its second performing credit fund. The company had launched its first performing credit fund in 2023 and a distressed assets vehicle in 2020.
For the new fund, the strategy will be led by Amit Dharod, who is the managing director for alternative assets at JM Financial Asset. Dharod joined the company from private credit firm Ascertis Credit last year. He has over two decades of experience, and has worked with institutions like ICICI Bank, GE Capital Services India and The Royal Bank of Scotland in the past.
The new fund seeks to leverage JM Financial Group's integrated ecosystem across investment banking, capital markets and credit, enabling access to differentiated deal flow and strong origination capabilities.
JM Financial said the new fund will strengthen its position in India's growing alternative investment landscape and expand its suite of private market investment solutions for institutional and high-net-worth investors.
While JM Financial will follow a sector-agnostic approach, it will avoid businesses that could get affected due to either onshore or offshore political developments or face a risk due to the regulatory framework in which they operate. It will also avoid exposure to early-stage real estate transactions.
Published by HT Digital Content Services with permission from VC Circle.