Kotak Alternate Asset Managers Limited (‘Kotak Alts’), the alternate assets  arm of Kotak Group, has achieved the final close of its 14th Real Estate Fund at ~USD 1 billion  backed by an anchor commitment from a wholly-owned subsidiary of the Abu Dhabi Investment  Authority (‘ADIA’) and a first commitment to Indian alternatives from National Pension Service  of Republic of Korea (‘NPS Korea’). 

ADIA's USD 675 MN+ anchor commitment to the 14th Real Estate Fund represents the sixth  consecutive commitment from an ADIA subsidiary to Kotak Alts’ real estate platform. The  relationship between Kotak Alts and ADIA now spans more than a decade and multiple fund  vintages.

NPS Korea's commitment to the 14th Real Estate Fund is particularly significant as their first-ever  investment in Indian alternative assets. As a sophisticated global alternatives investor with a  diversified portfolio spanning private equity, real estate, and infrastructure across major markets,  NPS Korea's decision to enter India through Kotak Alts’ real estate platform reflects both the  maturity of India's institutional alternatives market and the global standing of Kotak Alts’  investment franchise. 

Kotak Alts’ 14th Real Estate Fund focuses on providing growth and development financing support  across residential, commercial and other real estate asset classes across key cities in India. The  fund targets risk-adjusted returns for institutional investors through disciplined underwriting,  robust security structures, and an investment process refined across 13 prior real estate fund  vintages spanning over two decades. 

Srini Sriniwasan, Managing Director, Kotak Alts, said, "This fund closure is a milestone that  reflects the strength of relationship we have built with the world’s most discerning institutional  investors. Together, these partnerships define the quality of the Kotak Alts franchise and the  confidence that global institutions place in our ability to generate superior risk-adjusted returns." 

Mohamed Al Qubaisi, Executive Director of the Real Estate Department at ADIA, said, “The  demand for capital to support real estate in India is robust, while Kotak has delivered consistent  returns and displayed underwriting discipline across market cycles."

Vikas Chimakurthy, CEO, Kotak Alts (Real Estate Fund), said, "We are proud to bring such sovereign funds and  global pension funds as investors to a platform with this level of continuity, and on-the-ground  market expertise." 

Kotak Alts was set up in early 2005 and has raised,  managed, and advised over USD 22 billion across different asset classes, including Private Equity, Real Estate,  Infrastructure, Special Situations, Private Credit, and Investment Advisory. 

Source: Press release