Nisus Fund, BCD Group raise Rs.450-Cr for debut fund

Real estate credit fund Nisus Finance, along with its sponsor and strategic partner BCD Group, has raised INR 450 crore in the first close of its Real Estate Special Opportunities Fund-1.The fund aims to invest in mid-income, affordable housing and plotted development projects. The fund aims for an internal rate of return of 18-22% over a five-year period,The firm has so far invested INR 450 crore across four deals from RESO-1, managed by Nisus BCD Advisors LLP, with a total corpus of INR 700 crore.