DMI Alternatives debuts private credit fund, hires Omers alumnus

Group 1 - DMI Alternatives raised $120 million for its inaugural private credit fund, focusing on sectors benefiting from long-term growth trends in India's economy, such as health care, technology, and financial services [1] - The private credit market in India is experiencing significant growth, with deal flow reaching $9 billion in the first half of the year, a 53% increase from the same period last year [1] - The fund aims to provide financing tailored to Indian companies positioned for sustainable growth [1] Group 2 - Harein Uppal has been hired to lead the new fund, emphasizing the need for flexible capital solutions beyond traditional banking and capital markets [2] - DMI Alternatives is affiliated with DMI Finance, which is backed by Japan's Mitsubishi UFJ Financial Group and Sumitomo Mitsui Trust Bank Ltd [2] - In August, MUFG invested approximately $330 million in DMI Finance, which was valued at about $3 billion, to enhance lending to small- and medium-sized enterprises [3]