JM Financial Asset Management has launched its second performing credit Alternative Investment Fund (AIF), targeting India's rapidly growing private credit market. The JM Financial Select Credit Fund II (SCF II) is structured as a Category II AIF with a base corpus of ₹1,000 crore and a greenshoe option of an additional ₹1,000 crore. According to reports from The Economic Times, this greenshoe option allows the fund manager to raise additional money if investor demand exceeds expectations.
The fund will focus on lending to financially stable companies that are regularly servicing their debt obligations on time. As reported by The Economic Times, the strategy involves investing in performing credit opportunities across sectors by backing companies with stable cash flows, strong business fundamentals, and credible promoter track records. The fund aims to provide structured financing solutions to businesses while offering investors attractive risk-adjusted return opportunities.
The strategy will be led by Amit Dharod, Managing Director, Alternative Assets at JM Financial Asset Management, who joined the firm from Ascertis Credit. According to The Economic Times, Dharod brings more than 25 years of experience across institutions including ICICI Bank, GE Capital Services India, and Royal Bank of Scotland. The company stated that the fund will leverage JM Financial Group's integrated ecosystem across investment banking, capital markets, and credit businesses to access differentiated deal flow.
The launch comes at a time when India's AIF industry is witnessing robust growth. As reported by The Economic Times, according to SEBI data, total commitments in the AIF industry stood at ₹15.74 lakh crore as of December 2025, with Category II AIFs accounting for the largest share at ₹11.64 lakh crore. Amitabh Mohanty, Managing Director and CEO of JM Financial Asset Management Ltd, noted that the Indian private credit market is evolving rapidly as companies increasingly seek flexible and tailored financing solutions beyond traditional sources of capital.
