Kolkata, Aug 12 : Kotak Investment Advisors Limited has achieved the final close of the Kotak Special Situations Fund, with aggregate commitments of USD 1 billion.
The fund was launched in February 2019 and is anchored by a USD 500 million commitment from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”), a statement released to UNI here said.
The Kotak Special Situations Fund is an Alternative Investment Fund under SEBI regulations managed by the Alternate Asset Management AMC - Kotak Investment Advisors Ltd.
Srini Sriniwasan, Managing Director & CEO, Kotak Investment Advisors Ltd. said, “The Kotak Special Situations Fund has been closed at an opportune time for us. We have a flexible investment mandate enabling us to provide much needed capital to address the short term financial dislocation in the market as well as long term capital to address the NPL issue.”
Eshwar Karra, CEO, Kotak Special Situations Fund said, “We have a robust pipeline of transactions coming through as structured credit solutions as well as potential settlement of NPLs under the new RBI dispensation. This is in addition to the opportunities that arise out of the IBC process as well. We believe there is a significant opportunity to provide bespoke financing in a range of situations.”
Kotak Investment Advisors Limited (KIAL), a wholly owned subsidiary of Kotak Mahindra Bank Limited, focuses on the Alternate Assets business of the Group. (UNI)