JM Financial Ltd is set to hit a final close of nearly ₹600 crore for its second private equity (PE) fund, said two people aware of the matter.
The Mumbai-based financial services firm is engaged in investment banking, wealth management and private equity, institutional equity sales, trading and broking, among others. In April 2018, Mint reported that the firm had managed to tie up around ₹300 crore as part of the first close of the fund. A first close allows a fund manager to start investing the capital that was raised, while allowing it to continue to raise more funds from investors.