Kotak merges alternate fund, advisory into $18-billion asset management business

Sriniwasan in an media conference said that the merged business will attract investment from domestic High Net-worth Individuals who are looking for more business.

Kotak Mahindra Group has merged the investment advisory business and alternate fund management business and re-named the combined entity as Kotak Alternate Asset Managers. It will have a $18-billion cumulative assets under management.

An alternative investment fund is a pooled investment fund that has hedge funds, private equity firms, venture capital firms and others. ​

“The name change reflects our strategy to harness the combined power of $18-billion capital and direct it to the best opportunities available in India across asset classes with global standards of transparency and governance,” said Srini Sriniwasan, Managing Director at Kotak Alternate Asset Managers.

In a media conference, he said that the merged business will attract investment from domestic high net-worth individuals who are looking for more business.

Sriniwasan said that Kotak Alternate Asset Managers is ahead in identifying investment trend in the market and making use of it. He referred to data centre and private credit funds which was started by the company 18 months before other competitors.

"This makes us the largest asset manager in India by a yard," Sriniwasan told Reuters in an interview. The entity is not looking to raise any external funds as it is adequately capitalised but sees growth opportunities in both the alternative investment and advisory businesses, he said.

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