The investment has been made through the LC Luminere Credit Fund, a SEBI-registered Category II Alternative Investment Fund, along with affiliate entities.
The financing has been structured as secured non-convertible debentures.
Emerald Leisures, which operates Club Emerald, a leisure and hospitality destination in Mumbai, is part of the Techno Group. The company said the funding will support its strategic growth initiatives, but did not provide details on how the capital will be deployed.
The financing is backed by a security package that includes hard-asset collateral, escrowed cash flows, promoter support and identified liquidity events.
The transaction comes as private credit funds expand their focus on India’s mid-market companies, where borrowers can seek structured funding outside traditional bank lending.
Lighthouse Canton said it sees opportunities in private credit deals in the ₹100–500 crore range, particularly where lending can be backed by hard assets and defined cash flows.
Private credit typically involves non-bank lenders providing debt to companies through customised structures. Unlike standard bank loans, such financing can be tailored around a borrower’s assets, cash flows, repayment schedule and specific funding requirements.
For lenders, secured structures can provide additional protection through collateral and other contractual safeguards. For borrowers, private credit can offer an alternative source of capital and greater flexibility in structuring debt.
Lighthouse Canton’s India alternatives business includes private credit and hybrid strategies, with its credit platform focused on senior secured lending, structured credit and special situations.
The ₹105 crore Emerald Leisures transaction is therefore also indicative of the type of secured financing being pursued by private credit funds in India’s mid-market segment.
First Published: Aug 10, 2026 7:55 AM IST
