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 equity fund, the $160 million Kotak SEAF fund, that invests in broader small and medium enterprises.

This real estate fundÆs strategy is fourfold. Firstly it looks for co-investments with development companies at a project level,...
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