Kotak India Realty Fund Secures $1B Investment from ADIA and NPS Korea
Mumbai, June 3 (PTI) Kotak Alternate Asset Managers announced on Wednesday that it has successfully raised $1 billion in commitments from investors to close its newest real estate fund.
An anchor commitment of $675 million from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and an undisclosed funding from the National Pension Service of the Republic of Korea (NPS Korea) helped achieve the close for its 14th Real Estate Fund, according to a statement.
NPA Korea, which has over $1 trillion of assets under management, is making its first investment in the Indian alternatives space with this fund. This significant investment underscores the growing interest of global investors in India's real estate market.
So far, a slew of pension and sovereign wealth funds from countries such as Canada have been actively investing in India. The managing director of Kotak Alternate Asset Managers, Srini Sriniwasan, welcomed NPS Korea's investment, particularly in these volatile times. This is the sixth consecutive time that ADIA has invested in a Kotak fund, highlighting the strong and ongoing partnership between the two entities.
Mohamed Al Qubaisi, Executive Director of the Real Estate Department at ADIA, commented on the investment, saying, 'The demand for capital to support real estate in India is robust, while Kotak has delivered consistent returns and displayed underwriting discipline across market cycles.'
The success of this fund closure reflects the strong performance and reliability of Kotak in the real estate sector. It also demonstrates the confidence of international investors in the Indian real estate market, despite the economic uncertainties and challenges faced globally.
Kotak Alternate Asset Managers has a proven track record of delivering consistent returns and maintaining underwriting discipline, which has attracted significant investments from leading global institutions. This latest fund closure is expected to further bolster the company's position in the Indian real estate market and contribute to the growth and development of the sector.
