Kotak & ADIA set up a platform to invest in office assets

Kotak Investment Advisors (KIAL) received the closure of their 12th Real Estate Fund, for several investments in office assets in the country. KIAL formed a $ 590 million platform with a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for this fund and would be domiciled in GIFT City, in the state of Gujarat.

With the help of the new Fund, KIAL raised, managed, or even advised over $ 2.8 billion under the real estate fund series.

Vikas Chimakurthy, the CEO, of Kotak Realty Fund, said that with the closure of the real estate fund, they have raised approximately $ 1 billion in real estate in the past year. Solid demand for offshoring, back to office increase, hike in the services industry, and the Indian economy has witnessed substantial scope to create a portfolio of quality office assets.

Having multiple avenues for the exit of these portfolios and augmenting the liquidity of completed assets, they intend to curate the portfolio to meet the increasing demand for stabilised assets.

Srini Sriniwasan, managing director, Kotak Investment Advisors said that this pool of equity capital expands their footprint in real estate Investments by having a focused strategy. This is the first of many up coming pools of capital that they intend on raising this year to address various alternative Investment opportunities in the country.

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