European asset manager New Investment Solutions has led a fresh investment of $230 million (Rs 1,610 crore) into DMI Finance, one of the largest equity fund-raising rounds by a non-banking finance company (NBFC) recently.
The decade-old DMI, which runs a corporate lending as well as an affordable housing finance company, said it would be an “expansion player in a retrenching sector” hit by last year’s liquidity squeeze following the IL&FS crisis.
DMI is the only India exposure for the $2-billion New Investment Solutions, a Liechtenstein-based asset manager that represents ultra-high net worth individuals and large family offices in Japan, Asia and Europe.
