Kotak Alts Raises $1 Billion for 14th Real Estate Fund with ADIA and NPS Korea
Kotak Alts, the alternative asset management arm of the Kotak Group, has successfully raised $1 billion for its 14th real estate fund. The fund is anchored by a commitment of over $675 million from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and supported by the National Pension Service of the Republic of Korea (NPS Korea), marking its first investment in Indian alternatives.
ADIA’s commitment marks the sixth consecutive investment by an ADIA subsidiary in Kotak Alts’ real estate platforms, reflecting a decade-long partnership and multiple fund vintages. Srini Sriniwasan, Managing Director of Kotak Alts, stated, “ADIA’s sixth consecutive commitment to our platform is a testament to the trust earned over a decade of consistent delivery. NPS Korea’s maiden Indian alternatives commitment to our platform in these volatile times is an equally powerful validation. 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.”
The 14th Real Estate Fund will provide growth and development financing support across residential, commercial, and other real estate asset classes in key Indian cities. The strategy aims to generate risk-adjusted returns through underwriting, security structures, and an investment process developed over 13 previous real estate fund vintages. Vikas Chimakurthy, CEO of Kotak Alts (Real Estate Fund), emphasized, “The 14th fund is built on the learnings of 13 prior vintages across multiple real estate cycles, regulatory transitions, and liquidity environments. That depth of institutional memory is what gives global investors like ADIA and NPS Korea the confidence to commit.”
Mohamed Al Qubaisi, Executive Director of the Real Estate Department at ADIA, highlighted the robust demand for capital to support real estate in India and Kotak’s consistent returns and underwriting discipline. “This anchor commitment is a testament to the strong relationship we have built over more than a decade,” he said.
Set up in 2005, Kotak Alts focuses on alternative asset management and investment advisory business. The firm has raised, managed, and advised over $22 billion across different asset classes, including private equity, real estate, infrastructure, special situations, private credit, and investment advisory. The fundraise adds to the participation of global sovereign wealth and pension funds in India’s real estate financing market, where institutional investors continue to deploy capital through private credit and structured real estate strategies.
