Kotak Investment Advisors secures anchor investment of $500 m from ADIA’s subsidiary

November 15, 2022

Kotak Investment Advisors Limited (KIAL) 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 Fund, which is a $1 billion platform targeting real estate investments in India.

With this new fund, KIAL has raised, managed, or advised more than $3.3 billion under its real estate fund series. It may be recalled that ADIA in June this year invested in KIAL’s 12th Real Estate Fund and committed $500 million for investments in office assets in India.

Primary target

Vikas Chimakurthy, CEO, Kotak Realty Fund said, “This (13th Real Estate Fund) is an opportunistic fund which can invest across various real estate asset classes and capital stack i.e. both debt and equity. With the first close of this fund, KIAL has raised around $1.5 billion in real estate across multiple strategies in one-and-a-half years.”

Srini Sriniwasan, Managing Director, Kotak Investment Advisors Limited said, “As an India-focused alternate asset manager, Kotak has played a key role in attracting global capital to various alternate asset investment strategies in India. Kotak’s real estate investment practice has been a consistent performer for over 17 years across cycles and strategies.”

He added, “This track record has enabled us to emerge as a leading homegrown alternate asset manager with a significant Global LP base who have reposed faith multiple times with Kotak with significant Re-up participation in successor funds.”

Mohamed AlQubaisi, Executive Director, 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.”

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