A Kotak Mahindra Bank arm on Tuesday introduced that it has raised $1.25 billion for its second special situations fund.
The cash raised can be deployed in fairness, debt capital and hybrid devices throughout sectors, a press release from Kotak Investment Advisors (KIA), the arm of the non-public sector lender, below which the fund comes, stated.
The general focused quantity for the second fund, which can be domiciled within the GIFT City, is $1.6 billion.
The second fund, which comes after the deployment of $1 billion within the first fund, will “provide strategic solution capital across growth and value companies”, it stated.
Abu Dhabi Investment Authority, Singapore’s GIC and household workplace Premji Invest, who had been among the many backers for the primary fund, have dedicated cash for the second fund as effectively.
“… Our Investors have reposed faith in us by re-upping their large commitments in the second fund,” Kotak Special Situations Fund Chief Executive Eshwar Karra stated.
Mr. Karra stated the corporate expects a capital expenditure progress cycle over the subsequent two years and added that the fund is effectively positioned to play its half in the identical.
KIA’s managing director Srini Sriniwasan stated the corporate has raised $3.6 billion from international buyers to be deployed domestically in FY23 alone, and the general funds raised until now goes as much as $6.7 billion.
