Kotak raises $380 mn in eleventh realty fund, total mop-up crosses $2.2 bn

Kotak Investment Advisors (KIAL) today announced the closure of its new real estate fund which will target a range of real estate financing opportunities in the country.

The $380 million real estate fund is anchored by a clutch of leading global financial investors and is one of the largest dedicated real estate financing funds closed in recent times in the country, the fund manager said, adding that the new fund will target both early-stage and late-stage real estate projects in residential, commercial, retail, warehousing and hospitality sectors.

Srini Sriniwasan, Managing Director, Kotak Investment Advisors said, “Our new Real Estate Fund has been closed at an opportune time. We have a flexible investment mandate enabling us to provide much needed capital to address the short-term financial dislocation in the real estate financing market as well as long-term capital to address the liquidity issue.”

Vikas Chimakurthy, CEO, Kotak Realty Fund said, “The new $380 million fund is the eleventh fund in our real estate fund series, since our first fund raised in 2005. With this fund, we cross total raise of $2.2 billion. This demonstrates strong confidence of global investors in our longstanding track record and our ability to source, underwrite and manage real estate investments. We have a robust pipeline of transactions coming through as financing and structured credit solutions. This Fund shall continue to capitalize on our resilient past experience of investing in 60+ real estate transactions.”

The fund has been set up as an alternative investment fund under Sebi regulations managed by the Alternate Asset Management Company, Kotak Investment Advisors.

Disclosure: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd

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Nicholas ‘Nick’ Statman entered the property industry in 2001 and set up a property buying company that quickly established itself as one of the biggest in the sector. During this time the Company successfully transacted on thousands of residential properties across the UK. Nicholas Statman was an early pioneer of the ‘quick sale’ niche market which has since grown considerably with a multitude of companies now operating in the sector. Nicholas Statman has strategically built a sizeable residential and commercial property portfolio with a view to holding for optimum capital growth and a long term passive income. Nicholas Statman has been involved in almost every aspect of the property sector over a 20 year period – this includes buying and selling, development, letting and management and is now involved in the fast growing online/ hybrid Estate Agent industry.

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