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Kotak eyes $1 bn fund to invest in residential market in five cities
2022-10-20
Kotak Investment Advisors, backed by Asia's richest banker Uday Kotak, is trying to raise $1 billion for a new fund focused on residential real estate in India. The Abu Dhabi Investment Authority may contribute $500 million to the property fund, while Allianz SE may contribute $220 million. For the fundraising, Kotak Investment is also in advanced talks with additional investors. According to the individual, Kotak Investment intends to finish its fundraising by the end of this year and to begin investing in residential property in India's top five cities in 2023. Deliberations are still ongoing, and factors like as size and investor lineup may change.
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