Sumesh Mishra of Sunteck Realty to join APAC Financial as Head of Real Estate lending

Sumesh Mishra, associated with Sunteck Realty as the COO has moved to APAC Financial, an NBFC started by Gunit Chadha, ex Asia Pacific Head of Duestche Bank as the head of Real Estate lending. Mishra will be part of the core team of the structured finance business of the NBFC. The newly launched venture has already obtained NBFC and HFC licences and has started it's operations out of its Mumbai office. With its focus on the affordable housing finance space and Structured finance to mid and large corporates, the firm aspires to have a pan India reach.

Gunit has invested about Rs 100 crore of personal capital in the venture. As per the reports, a private equity firm will be infusing close to Rs 300 crore in the venture. In the current situation of capital crunch and balance sheets of public banks getting stretched, NBFC's are seeing an opportunity in this space.