Indian real estate fund raises $100 million
Kotak plans a diverse strategy for investing its private equity property fund.
Kotak Mahindra Realty Fund has announced that its new Kotak India Real Estate Fund has closed its domestic tranche raising $100 million. It is a close-ended venture capital fund scheme under the SEBI Venture Capital regulations and has Kotak Mahindra Investments acting as the investment manager.
Further commitments of $60 million have been received, and the fate of those additional pledges awaits regulatory approval.
The Realty fund operates with a 2 and 20 fee structure and joins another Kotak private...
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