Dalmia Nisus Finance Invests About Rs 80 CR In Two Realty Projects
- ByAyushi Ray | August 4, 2021
Dalmia Nisus Finance invests about Rs 80 cr in two realty projects in Chennai and Bengaluru which are being developed by Puravankara Ltd and Shriram Properties. They are also in the process of closing three more investments of Rs 125 crore. Dalmia Nisus Finance Investment Managers LLP, an alternatives manager, has invested this amount from its Real Estate Credit Opportunities Fund – I (RECOF – I). Dalmis Nisus is the joint venture fund of Nisus Finance headed by industry veteran Amit Goenka and the Gaurav Dalmia Group. These maiden investments are part of the Rs 500 crore RECOF-1 Fund that primarily invests into structured credit and mezzanine investments across the residential space in India. RECOF-1 fund had announced its first close in March 2020.
Gurav Dalmia, Chairman, Advisory Board of the Fund said, “ On a long-term risk adjusted basis, real estate structured capital remains a very attractive asset class.” Amit Goenka, Managing Partner and CEO of the Fund, said this is a unique time for capital pools to maximize on the opportunities within the real estate sector. “We are excited about our investment with the Puravankara Group and Shriram Properties and believe that in the current environment, top deck players like these will continue to show extraordinary growth and performance,” he added. “Our investments are uniquely structured to create a win-win with our investee companies while significantly mitigating idiosyncratic risks. Our investors will generate a significant alpha due to the uniqueness of our structure and partnership,” Goenka said.
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