JM Financial Asset Management Launches ₹1,000 Crore 2nd Credit AIF

JM Financial Asset Management has launched its second performing credit Alternative Investment Fund (AIF) with a base corpus of ₹1,000 crore, as per news reports.  

The fund, named JM Financial Select Credit Fund II (SCF II), also includes a greenshoe option of up to another ₹1,000 crore. The Category II AIF will invest in performing credit opportunities across sectors.  

The company said the strategy would focus on businesses with stable cash flows, established operations, and consistent debt repayment records. 

Private Credit Focus 

Performing credit funds typically lend to companies that continue to service their loans on time and require structured financing solutions.  

The fund is to provide credit to businesses seeking funding outside regular banking channels. 

JM Financial Asset Management said the investment strategy would target companies with established promoter track records and relatively stable business fundamentals.  

Industry Growth 

India’s alternative investment fund industry has recorded steady growth over the last few years. According to data from SEBI cited by the company, total commitments across AIFs stood at ₹15.74 lakh crore as of December 2025. 

Category II AIFs accounted for ₹11.64 lakh crore of the total commitments. The category includes private credit funds, which have seen increased activity as businesses look for alternative funding sources, and investors seek exposure to non-traditional assets. 

Leadership and Operations 

The fund strategy will be led by Amit Dharod, Managing Director, Alternative Assets at JM Financial Asset Management. Dharod joined the company from Ascertis Credit and has previously worked with ICICI Bank, GE Capital and Royal Bank of Scotland. 

JM Financial Group operates across investment banking, wealth management, private markets, housing finance and asset management businesses.  

As of December 31, 2025, the group’s wealth management assets under management stood at around ₹1.16 lakh crore. Its mutual fund average assets under management were about ₹1.43 lakh crore. 

Read More: Department of Posts Pauses Mutual Fund Distribution Initiative Pending Inter-Ministerial Consultations! 

Conclusion 

JM Financial Asset Management’s latest fund addition comes amid rising activity in India’s private credit market and continued growth in the AIF industry. 

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