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Kotak Investment Advisors raises US$590 million fund

Kotak Investment Advisors raises US$590 million fund

Kotak Investment Advisors (KIAL) has successfully achieved the closure of its 12th Real Estate (RE) Fund, for investments in Office Assets in India. KIAL has formed a USD 590 million platform with a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for this Fund, which will be domiciled in Gujarat’s GIFT City. With this new Fund, KIAL has raised, managed or advised more than USD 2.8 billion under its real estate fund series.

Vikas Chimakurthy, CEO, Kotak Realty Fund said, “This is our 12th real estate Fund and extends our successful relationship with ADIA. With the closure of this Fund, we have raised around USD 1 billion in real estate in the last one year. Strong demand for offshoring, return to office increasing, growth of the services industry and Indian economy has seen substantial scope for creating a portfolio of quality office assets. With multiple avenues for exit of such portfolios and increasing liquidity of completed assets, we intend to curate this portfolio to cater to increasing appetite for stabilised assets."

Srini Sriniwasan, Managing Director, Kotak Investment Advisors said, “Kotak Alternate Assets is targeting to become the "go-to" Alternative Assets manager for differentiated strategies for global investors. This pool of equity capital expands our footprint in RE Investments with a focused strategy. The GIFT regime and proactive regulator has made the process of pooling Global capital in GIFT City flexible and smooth. This is the first of many pools of capital that we intend to raise this year to address various Alternative Investment opportunities in India.”

Mohamed AlQubaisi, Executive Director of the Real Estate Department at ADIA said, “This new platform will focus on opportunities associated with long term demand for Indian office space, which is being driven by global organisations seeking to capitalise on the country’s skilled workforce. It also presents the opportunity to extend our relationship with Kotak, with whom we have successfully invested over a number of years.”


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