Lighthouse Canton has closed a ₹105 crore private credit investment in BSE-listed Emerald Leisures Limited through its India-focused Category II AIF, LC Luminere Credit Fund, and affiliated entities.

The investment has been structured through secured Non-Convertible Debentures (NCDs) and is aimed at providing long-term capital to support Emerald Leisures’ growth plans.

Emerald Leisures operates Club Emerald, a multi-sport, hospitality and recreational destination in Mumbai. The credit facility is backed by the company’s operating cash flows and further supported by collateral, escrowed cash flows, promoter support and identified liquidity events.

Private Credit Strategy in Focus

The transaction marks another deployment by Lighthouse Canton’s India private credit platform, which focuses on providing structured financing solutions to established businesses.

The investment comes through LC Luminere Credit Fund, a SEBI-registered Category II AIF launched by Lighthouse Canton in May 2026 with a target corpus of ₹1,200 crore, including a greenshoe option. The fund has a six-year tenure and focuses on senior secured structured credit opportunities across mid-to-large companies.

The fund's investment strategy covers opportunities including growth capital, acquisitions, sponsor-backed transactions, refinancing and select cross-border investments, with a focus on collateral-backed lending and capital preservation.

Growing Private Credit Opportunity

Lighthouse Canton said its private credit platform has access to more than 500 issuer relationships and over 1,000 promoter families, creating a broad pipeline of potential investment opportunities.

The firm currently manages assets for ultra-high-net-worth individuals, family offices, institutional investors and global investors, with capabilities spanning private credit, growth debt, venture capital, real estate private equity, public equities and global macro strategies.

The ₹105 crore Emerald Leisures transaction highlights the growing role of private credit and Category II AIFs in providing customised, non-dilutive financing to Indian businesses, particularly where traditional lending may not fully address the borrower’s capital requirements.