Nisus Finance to launch Rs.500-Cr fund for stressed and incomplete projects

Mumbai-based Nisus Finance is looking to launch an INR 500 crore fund called Dalmia Nisus Real Estate Credit Opportunities Fund 2 (RECOF 2) by October, along with the Dalmia Group. Nisus is looking to invest in redevelopment of residential projects in Mumbai. There will be secondary buyouts from ARCs (asset reconstruction companies) and NBFCs (non-banking financial companies).