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Nithia Capital
Nithia Capital is a UK-based alternative investment manager founded in 2010 in London, England. The company specializes in turning under-performing acquired...
Nithia Capital
Nithia Capital is a UK-based alternative investment manager founded in 2010 in London, England. The company specializes in turning under-performing acquired facilities into financially healthy businesses. Nithia Capital has one portfolio exit, Uttam Galva Steels, which occurred on November 10, 2022.
General information
Firm type
Generalist
Year founded
2010
AUM
Undisclosed
Location
Region
Asia
Country
Singapore
City
Singapore
Corporate office
Singapore, Singapore
Principals
Jai Saraf
Founder and CEO
Dr. Johannes Sittard
Chairman and Founding Member
Sector focus
Frequently asked questions
Who runs investment decisions at Nithia Capital?
Founder and CEO Jai Saraf and Chairman Dr. Johannes Sittard lead the firm. Saraf's background includes serving as Finance Director at Ispat International, while Sittard was a long-time confidant of Lakshmi Mittal. Investment decisions are driven by the founders' direct operational involvement rather than by a separate investment committee.
How does Nithia Capital source proprietary deal flow?
The firm sources distressed industrial assets through the founders' deep networks in the global steel and mining sectors. Its joint ventures — such as the CarVal Investors partnership for Uttam Galva assets and the Amalgam Steel co-investment in Crest Steel and Power — indicate a relationship-driven, co-investor model for accessing complex turnaround situations in India.
Is Nithia Capital structured as a family office or a traditional asset manager?
Nithia Capital operates as an asset manager with a generalist mandate, not a single- or multi-family office. It deploys its own capital alongside co-investors into direct acquisitions of industrial operating platforms, without offering external fund products to LPs.
Does Nithia Capital participate in fund commitments or only direct deals?
The firm's known activity is entirely on the direct-deal side. It acquires and operates distressed steel, power, and mining assets outright through special-purpose vehicles and joint ventures, with no disclosed record of making limited-partner commitments to third-party funds.
What investment stages does Nithia Capital typically target?
Nithia's strategy spans buyout, growth, and turnaround stages — with a heavy tilt toward turnaround. Its acquisitions typically involve distressed or underperforming heavy-industrial assets that require operational restructuring, not early-stage venture or passive minority positions.
How is Nithia Capital related to Lakshmi Mittal or the Mittal family office?
Dr. Johannes Sittard, Nithia's Chairman, was a confidant of Lakshmi Mittal. While the firm's principals carry that personal history, Nithia Capital is legally and operationally independent. It is not the Mittal family office.
What is Nithia Capital's known posture on co-investments alongside external GPs?
The firm actively co-invests — its Wardha Steel Holdings joint venture with CarVal Investors and its partnership with Amalgam Steel for Crest Steel and Power demonstrate a repeatable model of teaming with external capital partners to acquire and turn around Indian industrial assets.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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