LC Luminere Credit Fund
about LC Luminere Credit Fund
LC Luminere Credit Fund is the scheme of LC Luminere Alternatives Trust which is registered as a Category II AIF. This is a sector-agnostic, closed-ended performing credit fund designed to make senior secured investments in high quality sponsor backed mid-market corporates in India. The fund combines institutional governance, independent origination, and cross-border capital access on a single, conflict-free platform, offering investors exposure to India's expanding private credit investing opportunities with regular income distributions.
Key Tenets of Investment Strategy
The fund targets high-quality mid-market corporates with robust governance, a proven business history, and strong market positions in growing sectors. These are operationally profitable, cash-flow-generating businesses that require bespoke capital solutions that conventional bank lending channels are unable to address due to regulatory restrictions, structural complexity, or turnaround dynamics.
The Fund Could Potentially Invest In
Cross-Border Situations
Domestic leg of multi-jurisdictional transactions involving Indian Opco + Offshore Holdco structures
Sponsor Financing
Stake consolidation, PE exit financing, and promoter financing for specific non-bankable end use
Acquisition Financing
Funding corporate acquisitions with structured credit and robust security wraps (possibly dual recourse structures)
Growth & Working Capital Financing
Capital expenditure and working capital for operationally profitable businesses scaling into new markets or capacity
Refinancing
Replacing existing debt with more efficient structures for corporates with good banking history but curtailed access
Opportunistic Credit
Tactical credit solutions involving capital market event-linked opportunities in companies experiencing sectoral tailwinds
The typical borrower profile features low-to-moderate leverage, robust security cover including hard assets, share pledges, promoter personal guarantees, corporate guarantees/support, and financial covenants. The fund does not engage inreal estate developer financing, project financing, distressed or business turnaround situations, bail-outs, early-stage companies, asset light businesses, and businesses with governance or regulatory issues.
Strong Focus on Risk Assessment and Monitoring
Capital preservation is the foremost priority. The fund employs a multi-layered risk management framework that spans the full lifecycle of each investment, from underwriting through exit.
Rigorous evaluation of borrowing and repayment history, willingness quotient, liquidity and solvency analysis, macro overlay (GDP, inflation, geopolitical factors), and sector depth including TAM, growth drivers, and competitive moat analysis.
Senior secured investments only with defined multiple exit paths, Charge perfection completed pre-lending, First-ranking, IBC-admissible structures with sponsor comfort/guarantees where applicable.
Cashflow surveillance, board representation (where applicable), and auditor change tracking. Frequent mark-to-market using arms-length external valuations at deal, asset, equity, and sponsor level. Early warning systems that go beyond standard covenants to detect risk signals proactively.
Team
Sanket Sinha
MD & CEO, Global Asset Management
Sanket has led Lighthouse Canton's Global Asset Management business since 2018, building it into a diversified multi-strategy platform spanning Private Credit, Venture Capital, Life Sciences Real Estate, Indian Equities, and Global Macro — bringing together a cohesive approach to portfolio construction, risk management, and return delivery across asset classes. Under his leadership, the platform has expanded significantly in both scale and sophistication, reflecting a consistent focus on disciplined capital deployment and long-term value creation for investors.
Pranob Gupta
MD & Business Head India, Credit and Hybrid Alternatives
Pranob Gupta is MD & Business Head for Lighthouse Canton's India Credit & Hybrid Alternatives business. Pranob's role involves expanding the current funds platform, leveraging his extensive experience in proprietary origination, investment management, and building cross-border partnerships. Bringing over 23 years of experience in the industry, Pranob joins from JM Financial, where he served as MD and CIO of the Credit Alternatives platform. Prior to that, he held senior leadership roles at 360 One, KKR, and Kotak Alternates, with earlier career stints at Deutsche Bank and Credit Suisse in similar domains.
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Parag Rohatgi
ED, Credit and Hybrid Alternatives
Parag is Executive Director of Lighthouse Canton's Credit and Hybrid Alternates business, part of the Asset Management division. Based in Mumbai, he leads origination, structuring, and execution of high-yield transactions for Indian issuers. Parag brings over 18 years of experience in private credit, corporate finance, and investment banking, covering high-yield and distressed credit, capital raising, and mergers and acquisitions advisory. He previously held senior roles at JM Financial and Deutsche Bank.
Monil Mehta
AVP, Credit and Hybrid Alternatives
Ashutosh Dubey
Associate