DMI Alternatives introduces a private credit fund and hires Omers alumnus

DMI Alternatives introduces a private credit fund and hires Omers alumnus

According to Ernst & Young, deal flow rose to $9 billion in the first half of the year, an increase of 53% compared to the same period last year.

India’s DMI Alternatives raised $120 million for its first private credit fund and hired former Ontario Municipal Employees Retirement System investor Harein Uppal to lead it.

The fund’s focus is on investing in sectors that benefit from long-term growth trends driving India’s economic expansion, including healthcare, technology and financial services, the company said. It will provide financing ‘tailored to Indian companies that are well positioned for sustainable growth’.

Private lending activity in India is increasing, with S&P Global describing the market in a recent report as ‘coming of age’, driven by lower funding costs, ample liquidity and strong demand. According to Ernst & Young, deal flow rose to $9 billion in the first half of the year, an increase of 53 percent compared to the same period last year.

“India’s corporate credit markets provide an important opportunity to back high-quality companies that will shape the country’s future,” Uppal said. “Traditional banking and capital markets alone cannot meet the ambitions of today’s companies, which are looking for flexible capital solutions.”

The alternative asset manager is a subsidiary of DMI Finance, which is backed by Japan’s Mitsubishi UFJ Financial Group and Sumitomo Mitsui Trust Bank Ltd.

Last August, MUFG bought about $330 million worth of shares in DMI Finance at a valuation of about $3 billion, and the company used the capital to boost lending to small and medium-sized businesses.

More stories like this are available at bloomberg.com

Published on December 4, 2025

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