Kotak Alternate Asset Managers, the alternative assets arm of the Kotak Group, has achieved the final close of its 14th real estate fund at approximately $1 billion. The fund is backed by a major anchor commitment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and also marks the maiden investment into Indian alternatives by the National Pension Service of Republic of Korea (”NPS Korea”).
ADIA’s anchor commitment of over $675 million represents its sixth consecutive commitment to Kotak Alts’ real estate platform. Spanning more than a decade, this enduring relationship underscores the global investor’s continued confidence in Kotak’s underwriting discipline and consistent returns across market cycles.
Managing more than $1 trillion globally, NPS Korea’s first-ever commitment to Indian alternative assets highlights the growing maturity of India’s institutional market and the global standing of Kotak’s investment franchise, Kotak Alts said.
Driving growth across key Indian cities
The real estate fund is designed to provide growth and development financing. It will target capital deployment across several key real estate asset classes, including residential developments, commercial projects and other specialisd real estate sectors in major Indian cities.
“NPS Korea’s maiden Indian alternatives commitment to our platform for an India dedicated strategy in these volatile times is an equally powerful validation,” said Srini Sriniwasan, Managing Director at Kotak Alts.
Vikas Chimakurthy, CEO of Kotak Alts (Real Estate Fund), added that the fund builds upon the institutional memory and deep learnings gathered across 13 prior fund vintages. Since its inception in 2005, Kotak Alts has raised, managed, and advised over $22 billion across various asset classes.