JM Financial Group Raises Over Rs 600 Crore in First Close of JM Credit Opportunities Fund - 1

5 Jul 2023 , 10:07 AM

JM Financial Group has raised over Rs 600 crore (approximately $73 million) in the first close of its maiden performing credit fund, JM Credit Opportunities Fund – 1. JM Financial AMC will manage the fund as the Investment Manager. 

Mumbai-based JM Financial Group aims to invest debt capital in local companies through this new fund, expanding its existing portfolio of private equity, distressed assets, non-banking finance, and mutual funds. 

JM Credit Opportunities Fund – 1 is targeting a final close by June 2024, with a deployment goal of Rs 1,500 crore, including co-investments with JM Group. The fund will be led by Pranob Gupta, serving as the Managing Director & CIO.

Discussions have resulted in commitments of Rs 600 crore, which will be invested in the current quarter. The fund will focus on deal sizes ranging from Rs 200-500 crore, while cheque sizes from JM Credit Opportunities Fund – 1 will range from Rs 50-100 crore.

Launched in March 2023, the SEBI-registered category II AIF aims to capture opportunities in credit markets affected by regulatory differences between banks and NBFCs. The fund is sector-agnostic, but it will consider opportunities in consumer, healthcare, manufacturing, conglomerates, B2B services, renewables, and ESG-oriented companies and sectors.

For feedback and suggestions, write to us at [e-mail]