JM Financial Asset Management Ltd announced the launch of its second Credit Alternative Investment Fund, JM Financial Select Credit Fund II (SCF II), with an initial size of ₹1,000 crore and an additional greenshoe option of ₹1,000 crore, potentially bringing the total corpus to ₹2,000 crore.
SCF II is classified as a Category II Alternative Investment Fund (AIF), targeting performing credit opportunities in companies known for stable cash flows and strong business fundamentals. The fund aims to provide structured credit solutions to businesses while ensuring risk-adjusted returns for its investors.
The fund’s strategy will be directed by Amit Dharod, Managing Director of Alternative Assets, who joined JM Financial Asset Management from Ascertis Credit the previous year. Dharod has over 25 years of experience in the financial sector, having worked at ICICI Bank, GE Capital Services India, and The Royal Bank of Scotland.
According to Managing Director and CEO Amitabh Mohanty, the launch underscores the firm’s commitment to building a diversified alternatives platform that caters to the evolving financing needs of businesses. The initiative comes amid significant growth in India’s AIF industry, with total commitments reaching ₹15.74 lakh crore as of December 2025, as reported by SEBI. Notably, Category II AIFs, which encompass private credit strategies, account for ₹11.64 lakh crore of this total, representing the largest share among all AIF categories.
As of March 2026, JM Financial Asset Management oversees mutual fund assets worth ₹12,000 crore.
