Key Points of Kotak Mahindra Bank Arm Secures Distressed Asset Fund:
- Kotak Investment Advisors (KIA) has successfully raised USD 1.25 billion for its second special situations fund.
- The fund will be utilized in various sectors through equity, debt capital, and hybrid instruments.
- The primary objective of the fund is to provide strategic solution capital across growth and value companies.
- The overall targeted amount for the second fund is USD 1.6 billion, and it will be domiciled in the GIFT City.
- Investors, including Abu Dhabi Investment Authority, Singapore’s GIC, and Premji Invest, have committed funds for the second fund.
- Kotak Special Situations Fund CEO Eshwar Karra stated that the investors have re-upped their large commitments in the second fund, showing their faith in the company.
- The fund is well placed to participate in the expected capital expenditure growth cycle over the next two years.
- KIA’s managing director Srini Sriniwasan said that the company has raised USD 3.6 billion from foreign investors for deployment domestically in FY23 alone, taking the overall funds raised to USD 6.7 billion.
Details of Kotak Mahindra Bank Arm Secures Distressed Asset Fund:
Kotak Investment Advisors (KIA), a subsidiary of Kotak Mahindra Bank, has announced that it has successfully raised USD 1.25 billion for its second special situations fund. This fund will be utilized in various sectors through equity, debt capital, and hybrid instruments. The primary objective of this fund is to provide strategic solution capital across growth and value companies.
According to the statement issued by KIA, the overall targeted amount for the second fund is USD 1.6 billion, and it will be domiciled in the GIFT City. This comes after the successful deployment of USD 1 billion in the first fund. Investors, including Abu Dhabi Investment Authority, Singapore’s GIC, and Premji Invest, have committed funds for the second fund.
Kotak Special Situations Fund CEO Eshwar Karra stated that the investors have shown faith in the company by re-upping their large commitments in the second fund. He also added that the fund is well placed to participate in the expected capital expenditure growth cycle over the next two years.
KIA’s managing director Srini Sriniwasan said that the company has raised USD 3.6 billion from foreign investors for deployment domestically in FY23 alone, taking the overall funds raised to USD 6.7 billion.
The successful raising of funds for KIA’s second special situations fund is a significant milestone, and the company is optimistic about the growth opportunities that lie ahead.
About Kotak Investment Advisors:
Kotak Investment Advisors is a subsidiary of Kotak Mahindra Bank that specializes in Alternate Assets. The company was established in the early 2005s, primarily to bring a sharper focus to this business, and started with its first structured third-party funds.
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