Private Equity

PE-RE Fund Investments

Dalmia Nisus Finance invests Rs. 80-Cr in Shriram Properties, Puravankara projects

Economic Times  

Dalmia Nisus Finance has invested around INR 80 crore in two real estate projects in Chennai and Bengaluru being developed by Puravankara Ltd and Shriram Properties respectively. The alternative fund manager has invested this amount from its Real Estate Credit Opportunities Fund - I (RECOF - I). The first transaction with Puravankara is for a plotted development in Chennai, while the second one is towards Tanmathra Aquarelle Pvt Ltd's gated community project, being managed by Shriram Properties Ltd. Dalmia 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 INR 500 crore RECOF-1 Fund that primarily invests into structured credit and mezzanine investments across the residential space in India. The fund is in process of closing three more investments of INR 125 crore.