The Category II AIF, named JM Financial Select Credit Fund II (SCF II), will invest in performing credit opportunities across sectors, focusing on companies with stable cash flows, established promoter track records and strong business fundamentals, the company said in a statement.
The fund aims to provide structured credit solutions to businesses while offering investors exposure to risk-adjusted return opportunities in private credit markets.
India’s alternative investment fund industry has expanded rapidly in recent years. Total commitments across AIFs stood at ₹15.74 lakh crore as of December 2025, according to data cited from the Securities and Exchange Board of India (SEBI). Category II AIFs, which include private credit funds, accounted for ₹11.64 lakh crore of total commitments.
The strategy will be led by Amit Dharod, managing director, alternative assets at JM Financial Asset Management. Dharod joined the firm last year from Ascertis Credit and has previously worked with institutions including ICICI Bank, GE Capital and Royal Bank of Scotland.
JM Financial Asset Management said the fund will leverage the broader JM Financial Group platform across investment banking, capital markets and credit businesses for deal sourcing and origination.
JM Financial operates across investment banking, wealth and asset management, private markets and housing finance businesses.
As of December 31, 2025, the group’s wealth management assets under management stood at about ₹1.16 lakh crore, while mutual fund average assets under management were around ₹1.43 lakh crore, according to the statement.
