Nisus Finance Services (Nifco), a real estate investment firm, is in the process of raising around $200 million from investors in Singapore, the UK, and the Middle East. So far, the inaugural special situations offshore fund has secured $40 million and aims to complete its first close by March 2025. An offshore entity will serve as a feeder or co-investor in the domestic fund, with approximately $40 million already committed.
“This capital can be invested alongside the domestic pool, which is nearing final closure. We have an additional $160 million under discussion, with interest from HNIs, bank treasuries, and family offices for high-yield assets,” said Amit Goenka, managing director and CEO of Nisus Finance.
Nisus Finance Group manages two alternative investment funds: the Real Estate Credit Opportunities Fund-I (RECOF-I) and the Real Estate Special Opportunities Fund-1 (RESO-1), with a combined corpus of ₹1,200 crore. RECOF-I is co-owned by Nisus and the Dalmia Group, while RESO-1 is sponsored and strategically partnered with BCD Group.
“We have a pipeline of stressed assets to be acquired in India. The offshore fund will co-invest alongside RESO-1 into residential assets stuck for last-mile funding, either as an FPI or as an investor in the India fund,” said Goenka. The company plans to complete the final fundraising round for RESO-1 by the end of this fiscal year.
Nisus Finance Group, with a total corpus of ₹700 crore, has already invested ₹450 crore across four deals from its RESO-1 fund, managed by Nisus BCD Advisors LLP.
In 2020, the company fully exited its first fund, the ₹450 crore Real Estate Asset Performance Fund-I (REAP-I). Nisus also operates a non-banking financial company (NBFC), Nisus Fincorp Pvt. Ltd., which focuses on lending to SMEs in both real estate and non-real estate sectors. “We are also in the process of exiting the RECOF-I fund and aim to grow our SME lending book to ₹150 crore before the initial public offering,” he said.
As part of its IPO strategy, Nisus Finance Services Co. Limited has submitted a draft red herring prospectus (DRHP). The NBFC aims to strengthen its fund setup, acquire additional licenses, and enhance its fund management infrastructure in key financial hubs like IFSC-Gift City, DIFC-Dubai, and FSC-Mauritius.
Nisus Finance Group also plans to use the funds to cover placement fees and fundraising expenses for domestic and international markets. Additionally, the company will invest in its associate, Nisus Fincorp Private Limited, raise more capital, and meet other general corporate costs.
