Kotak Investment Advisors achieves closure of new real estate fund

New Delhi: Kotak Investment Advisors on February 9 said it has successfully achieved closure of its new USD 380 million-real estate fund, which will target a range of real estate financing opportunities across key cities in the country.

The fund is anchored by a clutch of leading global financial investors and is one of the leading real estate financing funds closed in recent times in India, particularly during the Covid-19 pandemic.

The new fund will target both early stage and late stage real estate projects in residential, commercial, retail, warehousing and hospitality sectors, Kotak Investment Advisors Ltd (KIAL) said in a statement.

“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 KIAL Managing Director Srini Sriniwasan said.

Vikas Chimakurthy, CEO, Kotak Realty Fund, said the new USD 380 million fund is the 11th fund in the company’s real estate fund series, since the first fund raised in 2005.

“With this fund, we cross total raise of USD 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,” he added.

The real estate fund is set-up as an Alternative Investment Fund under Sebi regulations managed by the Alternate Asset Management Company – KIAL.