Kotak Investment Advisors (KIAL) has said it has achieved closure of its new Real Estate Fund worth around $380 million or Rs 2,770 crore, which will target a range of real estate financing opportunities across key cities in India.
The new fund will target both early-stage and late-stage real estate projects in residential, commercial, retail, warehousing and hospitality sectors, the company said in a statement.
The around $380 million real estate fund is anchored by a clutch of leading global financial investors and is one of the largest dedicated real estate financing funds closed in recent times in India, particularly during the COVID-19 pandemic..
“Our new Real Estate Fund has been closed at an opportune time. We have a flexible investment mandate enabling us to provide much-needed capital to address the short-term financial dislocation in the real estate financing market as well as long-term capital to address the liquidity issue,” said Srini Sriniwasan, Managing Director, Kotak Investment Advisors.
Vikas Chimakurthy, CEO, Kotak Realty Fund said: “The new ~$380 million fund is the 11th fund in our real estate fund series since our first fund raise in 2005. With this fund, we cross a total raise of ~$2.2 billion. This demonstrates strong confidence of global investors in our longstanding track record and our ability to source, underwrite and manage real estate investments. We have a robust pipeline of transactions coming through as financing and structured credit solutions.”
The real estate fund is set up as an Alternative Investment Fund (AIF) under SEBI regulations managed by the Alternate Asset Management Company - Kotak Investment Advisors.
Kotak Investment Advisors (KIAL), a wholly-owned subsidiary of Kotak Mahindra Bank, focuses on the Alternate Assets business of the Group.
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