# Nithia Capital

Nithia Capital is an Asset Manager based in Singapore, Singapore.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Singapore, Singapore
- **Region:** Asia
- **Address:** Singapore, Singapore
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** www.nithiacapital.com
- **LinkedIn:** https://www.linkedin.com/company/nithia-capital

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Steel
- Power
- Resources
- Industrials

## People

- Jai Saraf — Founder and CEO
- Dr. Johannes Sittard — Chairman and Founding Member

## 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.

### 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 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.

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Last updated: 2026-06-03T20:00:00.000Z

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