Kotak Investment Advisors Secures Anchor Commitment from ADIA for $1 billion Real Estate Fund

Kotak Investment Advisors Limited (KIAL) has secured an anchor investment of USD 500 million from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for its 13th Real Estate (RE) Fund, a USD 1 billion platform targeting opportunistic real estate investments in India. With this new fund, KIAL has raised, managed or advised more than USD 3.3 billion under its real estate fund series.

Vikas Chimakurthy, CEO, Kotak Realty Fund said, "This is an opportunistic fund which can invest across various real estate asset classes and capital stack i.e. both debt and equity. The Fund will primarily target investments in residential real estate. With the first close of this Fund, KIAL has raised around USD 1.5 billion in real estate across multiple strategies in around one and a half years."

Srini Sriniwasan, Managing Director, Kotak Investment Advisors Limited said, "As an India focused alternate asset manager, Kotak has played a key role in attracting global capital to various alternate asset investment strategies in India. Kotak's Real Estate Investment practice has been a consistent performer over 17 years across cycles and strategies. This track record has enabled us to emerge as a leading home grown alternate asset manager with a significant Global LP base who have reposed faith multiple times with Kotak with significant Re-up participation in successor funds."

Mohamed AlQubaisi, Executive Director of the Real Estate Department at ADIA said, "This agreement extends our existing and longstanding relationship with Kotak. The new platform is primarily targeted at the significant demand for housing in India, which is driven by sustained economic growth and a shortage of urban housing clusters."

Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 1950.20 as compared to the previous close of Rs. 1965.65. The total number of shares traded during the day was 35300 in over 2164 trades.

The stock hit an intraday high of Rs. 1965.65 and intraday low of 1942.30. The net turnover during the day was Rs. 68942465.00.

Source : Equity Bulls

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KotakMahindraBank INE237A01028 KOTAKBANK KotakInvestmentAdvisors RealEstateFund ADIA