Kotak Investment Advisors Limited (KIAL) said that it has secured an anchor investment of $ 500 million from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for its 13th Real Estate (RE) Fund, a $1 billion platform targeting opportunistic real estate investments in India. After this deal, KIAL has raised, managed or advised over $3.3 billion under its real estate fund series.
Vikas Chimakurthy, Chief Executive Officer (CEO), Kotak Realty Fund said, “This is an opportunistic fund which can invest across various real estate asset classes and capital stack i.e. both debt and equity. The Fund will primarily target investments in residential real estate. With the first close of this Fund, KIAL has raised around $1.5 billion in real estate across multiple strategies in around one and a half years.”
Mohamed AlQubaisi, Executive Director of the Real Estate Department at ADIA said, “This agreement extends our existing and longstanding relationship with Kotak. The new platform is primarily targeted at the significant demand for housing in India, which is driven by sustained economic growth and a shortage of urban housing clusters.