JM Financial Asset Management Ltd on Monday launched its second Credit Alternative Investment Fund, JM Financial Select Credit Fund II (SCF II), with a base size of ₹1,000 crore and an additional greenshoe option of ₹1,000 crore, taking the total potential corpus to ₹2,000 crore.

SCF II is a Category II AIF that will target performing credit opportunities in companies with stable cash flows and strong business fundamentals. The fund aims to provide structured credit solutions to businesses while delivering risk-adjusted returns to investors.

The strategy will be led by Amit Dharod, Managing Director, Alternative Assets, who joined JM Financial Asset Management last year from Ascertis Credit. Dharod brings over 25 years of experience across ICICI Bank, GE Capital Services India, and The Royal Bank of Scotland.

The fund intends to leverage JM Financial Group’s presence across investment banking, capital markets, and credit to source deal flow. Managing Director and CEO Amitabh Mohanty said the launch reflects the firm’s commitment to building a diversified alternatives platform addressing evolving business financing needs.

The launch comes against a backdrop of rapid growth in India’s AIF industry. Total commitments reached ₹15.74 lakh crore as of December 2025, per SEBI data. Category II AIFs, which cover private credit strategies, account for ₹11.64 lakh crore of that figure — the largest share among all AIF categories.

JM Financial Asset Management currently manages mutual fund assets of ₹12,000 crore as of March 2026.

Published on May 25, 2026