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Nisus Finance, along with strategic partner BCD Group, has raised INR 450 crore for its debut real estate credit fund, RESO-1, and aims to close the fund by the fiscal year's end. The fund has already deployed capital across four deals, focusing on mid-income housing and affordable projects. Key investments include Bengaluru's Project High Cliff and a land parcel in Pune's Manjari-Budruk. With a targeted return of 18-22%, the fund addresses last-mile construction finance needs, offering strong asset-backed investments while seeking substantial returns for investors.
Nisus Finance, in collaboration with its sponsor and strategic partner BCD Group, has successfully raised INR 450 crore for its debut real estate credit fund. The firm anticipates closing its Real Estate Special Opportunities Fund-1 (RESO-1) fundraising by the end of this financial year, aiming to secure an additional INR 150 crore. According to Amit Goenka, Managing Director and CEO of Nisus Finance, there is strong demand for last-mile construction finance as numerous real estate projects remain unfinished. Advertisement
To date, Nisus has invested INR 450 crore in four transactions through RESO-1, which Nisus BCD Advisors LLP manages, out of a total fund corpus of INR 700 crore. Recent investments include INR 60 crore in listed non-convertible debentures for Bengaluru's Project High Cliff and INR 105 crore in Shapoorji Pallonji Real Estate's subsidiary, Suvita Real Estate. The investment targeted acquiring a 12.16-acre land parcel in Pune's Manjari-Budruk area, a key growth market.
The fund's primary objective is to invest in mid-income and affordable housing projects, as well as plotted development opportunities. RESO-1 focuses on special situation funds to unlock significant value by financing projects needing financial completion. The fund targets an internal rate of return (IRR) between 18% and 22% over a five-year horizon, with the potential to extend for an additional two years if necessary.
Nisus Finance's focus on addressing the financing gap for real estate projects is vital, particularly for developments in the affordable housing segment. By providing critical last-mile financing, Nisus is playing a pivotal role in helping these projects move from the development phase to completion, ensuring that they reach the market on time and meet growing housing demand.
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