Kotak forms $590 mn worth of investment platform with ADIA

Kotak Investment Advisors Limited (KIAL) told the media that it has successfully achieved the closure of its 12th Real Estate (RE) Fund for investments in office assets across India.

KIAL has formed a $590 million platform, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), for this fund to be domiciled in Gujarat International Finance Tech (GIFT) City.

KIAL has raised, managed or advised over $2.8 billion under its RE funding series.

CEO of Kotak RE Fund, Vikas Chimakurthy, said that it is the 12th real estate fund and extends a relationship with ADIA. The company have raised around $1 billion in realty in the last year.

He said that with multiple avenues for the exit of such portfolios and increasing liquidity of completed assets, the company plans to curate this portfolio to cater to the increasing demand for stabilised assets.

Managing Director of Kotak Investment Advisors Limited, Srini Sriniwasan, said that Kotak Alternate Assets is targeting to become a go-to alternative assets manager for global investors. It will expand the company's footprint in RE Investments.

He added that the GIFT regime and proactive regulator had made the process of pooling global capital in GIFT City flexible and smooth. It is the first capital that the company plans to raise this year to address various alternative investment opportunities in India.

Executive Director of the Real Estate Department at ADIA, Mohamed AlQubaisi, said that the new platform would focus on more opportunities in long-term demand for the Indian office segment, which is being driven by global firms to capitalise on the skilled workforce in the country.

He added that it would further allow the company to extend its relationship with Kotak.

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