New Delhi, Aug. 5 -- Lighthouse Canton, a Singapore-based wealth and asset management firm with over $5 billion in assets under management, has made an investment through its private credit fund in listed leisure and hospitality company Emerald Leisures Limited.

The firm has invested Rs 105 crore (around $11 million) through its India-based category II alternative investment fund (AIF), the LC Luminere Credit Fund, and its affiliates.

The investment, made through secured non-convertible debentures, will provide long-term capital to support Emerald Leisures' strategic growth initiatives. It is supported by a security package comprising hard-asset collateral, escrowed cashflows, promoter support and identified liquidity events, the firm said in a statement.

Mumbai-based Emerald Leisure owns and operates Club Emerald, a premium multi-sport, hospitality and recreational destination located in Chembur.

"The structured credit solution has provided us with the flexibility to accelerate our growth while preserving our long-term strategic vision. More than just capital, it offers a financing structure that supports sustainable growth and positions us to capitalise on future opportunities," said Jaydeep Vinod Mehta, group chairman, Techno Group (parent company of Emerald Leisures Limited).

Lighthouse's credit strategy

Founded in 2014, Lighthouse Canton operates across Singapore, Dubai, India and London. Its LC Luminere Credit Fund, launched earlier this year, is targeting a corpus of Rs 1,200 crore ($125.3 million) including a greenshoe option, to invest in structured credit opportunities in India.

It will focus on structured credit investments in mid-to-large corporates and target opportunities across growth financing, acquisitions, refinancing and sponsor-backed transactions. The fund has a tenure of six years, with an average deal tenure of around three years.

"We see a significant opportunity in private credit for mid-market companies, particularly in deals in the Rs 100-500 crore range, where we can achieve superior risk-adjusted returns backed by strong security structures with hard assets," said Pranob Gupta, managing director and business head of India Alternatives (Credit & Hybrid Strategies) at Lighthouse Canton.

Published by HT Digital Content Services with permission from VC Circle.