A subsidiary of Kotak Mahindra Bank has raised $1.25 billion for its second special situations fund, today.
The funds would be invested in equity, debt capital, and hybrid instruments across sectors, according to a statement from Kotak Investment Advisors (KIA), the private sector lender’s investment arm.
The total amount targeted for the second fund, which will be based in GIFT City, is $1.6 billion.
The second fund will “provide strategic solution capital across growth and value companies,” it stated, following the deployment of $1 billion in the first fund.
Abu Dhabi Investment Authority, Singapore’s GIC, and family firm Premji Invest, all of which contributed to the first fund, have committed funds to the second.
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 said.
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EshwarKarra stated that the corporation anticipates a capital expenditure growth cycle over the next two years and that the fund is well positioned to participate in it.
Srini Sriniwasan, managing director of KIA, stated that the company has raised $3.6 billion from foreign investors for domestic deployment in FY23 alone, bringing the total capital raised to $6.7 billion.
