“Our goal is to establish a comprehensive AIF ecosystem that facilitates the next stage of enterprise growth in India. We are developing strategies that are thematic, based on real assets, and focused on unconventional opportunities,” said Amitabh Mohanty, MD and CEO of JM Financial Asset Management Ltd, in an interview with PTI.
The AIF platform is set to provide specialized capital pools across credit, real estate, and pre-IPO avenues, he noted.
JM Financial has initiated its early-stage real estate (RE) fund, leveraging the group’s extensive experience and a strong track record spanning over a decade in managing real estate credit, he explained. The fund is designed to address the capital gaps that traditional lenders cannot fill due to regulatory limitations.
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The fund targets raising ₹1,000 crore, including a likely first close at ₹500 crore. The proceeds will be utilized to provide debt capital to established developers in metro areas, assisting with land acquisition and approval costs, he added.
Investor interest has been strong from both institutional and HNI/family office sectors, he mentioned.
The asset manager has also submitted its first application for a pre-IPO fund and a follow-on performing credit fund with Sebi. The pre-IPO fund is set to invest in companies with an 18-month timeframe leading up to the IPO, aiming to build an anchor book.
Its inaugural performing credit fund is on course to meet target returns in alignment with its stated investment objectives, having already exited several investments.
“Alternatives will continue to be a key focus for the group. We are making significant investments in assembling specialized teams, enhancing risk management processes, conducting due diligence, and improving investor experiences across our platforms. With increasing investor engagement and demand for flexible capital, our expanded AIF platform will be crucial in supporting India’s growth over the next decade,” he stated.
