JM Financial Asset Management Company is expanding its Alternative Investment Fund (AIF) platform with the launch of Rs. 1,000 crore early-stage real estate fund to address the sector's financing gap.
"Our objective is to build a comprehensive AIF ecosystem that supports India's next phase of enterprise growth. We are creating strategies that are thematic, real asset-backed and focused on non-traditional opportunities," JM Financial Asset Management Ltd MD and CEO Amitabh Mohanty told PTI.
The AIF platform will offer specialised pools of capital across credit, real estate and pre-IPO opportunities, he said.
JM Financial has launched its early-stage real estate (RE) fund, which capitalises on the group's expertise and track record over more than a decade managing real estate credit, he said, adding that the fund aims to bridge the capital gap that traditional lenders are unable to address due to regulatory constraints.
The fund aims to raise Rs. 1,000 crore, with likely first close of Rs. 500 crore and proceeds of the fund would be utlised for providing debt capital to established developers in metro cities, to meet their requirements towards land acquisition and approval cost, he said.
The fund has seen strong investor interest from both institutional and HNI/family office segments, he added.
The asset manager has also filed its maiden pre-IPO fund and follow on performing credit fund application with Sebi and pre-IPO fund will invest in companies with a time horizon of 18 months to IPO up to anchor book.
Its first performing credit fund, is on track to deliver target returns in line with stated investment objective, with several investments already exited.
"Alternatives will remain a key priority for the group. We are investing heavily in building specialist teams, robust risk management processes, due diligence and investor experience across platforms. With rising investor participation and demand for flexible capital, our expanded AIF platform will play an important role in supporting India's next decade of growth," he said.
