by Suman Gupta
Domiciled in Gujarat’s GIFT City, the USD 1.6 billion fund has received commitments from
marquee Global Investors
Mumbai, March 28, 2023: Kotak Investment Advisors Limited (“KIAL”) today announced the first close of Kotak Strategic Situations Fund II IFSC (“KSSF II”). Domiciled in Gujarat’s GIFT City, the Fund has raised USD 1.25 billion of the targeted USD 1.6 billion corpus and will provide strategic solution capital across growth and value companies. The sector-agnostic fund will provide equity, debt capital and hybrid capital.
The impressive performance of the Kotak Special Situations Fund has seen significant commitments from international investors, including Sovereign Wealth Funds & Pension Funds investing in KSSF’ follow-on fund (KSSF II).
Eshwar Karra, CEO-Kotak Special Situations Fund, Kotak Investment Advisors Limited said, “Riding on the success of the first Special Situations Fund, our Investors have reposed faith in us by re-upping their large commitments in the second fund. In line with the changing market, the fund is now positioned to provide strategic solution capital for unique circumstances and to finance the impending capex growth cycle that we expect to play out over the next couple of years.”
Rahul Chhaparwal, Executive Director – Kotak Special Situations Fund, Kotak Investment Advisors Limited added, “Global capital availability and the return parameters that meet a relative value proposition for India has changed in the last six months. Domestic capital availability will also recalibrate basis the latest budget announcements. This fund raise has come at an appropriate time to serve corporate India with a unique positioning.”
Srini Sriniwasan, Managing Director, Kotak Investment Advisors Limited said, “In FY2023, Kotak Alternate Asset Management has successfully closed five large value funds aggregating ~ USD 3.6 billion of dedicated global capital targeting investment across industries and sectors like Infra, Real Estate and Data Centres. This close of KSSF II will take the aggregate funds raised to over USD 8.7 billion. Kotak Alternate Asset Management is establishing itself as India’s largest Multi Asset Manager for discerning Investors.”
About Kotak Investment Advisors Ltd.: Kotak Investment Advisors Limited (KIAL), a part of Kotak Mahindra Group (Kotak), focuses on alternate assets management and investment advisory businesses. KIAL was set up in early 2005 and has raised/managed/advised over US$ 8.7 billion across different asset classes including Private Equity, Real Estate, Infrastructure, Special Situations and Listed Strategies. KIAL also has a significant Investment Advisory business, and all asset management and Investment Advisory businesses are managed by independent teams.
