JM Financial launches Rs.1,000-Cr real estate fund

New Delhi-based JM Financial Asset Management Company has launched a real estate Alternative Investment Fund (AIF) with a target to raise INR 1,000 crore. The fund will provide debt capital to established developers in metro cities, specifically for land acquisition and approval costs.JM Financial has also filed applications for a maiden pre-IPO fund and a follow-on performing credit fund. The pre-IPO fund will invest in companies with an 18-month time horizon to IPO.