Financial service group JM Financial has hit the first close of its maiden performing credit fund – JM Credit Opportunities Fund – 1 – raising over ₹600 crore in commitment from domestic HNIs and family offices, a senior executive told.
“This is going to be our flagship credit strategy. Inclusive of co-investments the overall commitment is in excess of ₹600 crore. We will be looking to invest the entire capital within this quarter,” said Anuj Kapoor, managing director & CEO, Private Wealth and Alternates Asset Management, JM Financial.
“We have a very strong history in structured lending through our NBFC, which we have been doing for over two decades. While a lot of the NBFCs have withered away and there are quite a few credit funds that have mushroomed in recent years, the way we are looking to distinguish ourselves is that we have a very strong platform, where within our ecosystem we get a strong flow of deals. We have a very strong underwriting capability which is demonstrated by the track record of our NBFC,” said Kapoor.