Kotak Alternate Assets to raise up to Rs 2,000 cr from a private credit fund
Kotak Alternate Assets, managed by Kotak Investment Advisors Ltd (KIAL), announced on Wednesday that it will raise up to Rs 2,000 crore from investors to lend to growth-oriented companies in the middle market space.
The Kotak Private Credit Fund will be an alternative investment fund of Rs 1,000 crore category II and there will be a greenshoe option to raise another Rs 1,000 crore.
The platform will focus on the performing credit space and provide debt to growth-oriented companies with established business models in the mid-market space to secure mid-to-high teen yields, according to a release.
Srini Sriniwasan, Managing Director of KIAL, said the fundraising effort coincides with the development of the private credit ecosystem and will help KIAL increase its footprint in the credit investment space by making investments in secure credit.
KIAL has also appointed Niraj Karia of buyout firm KKR to lead the private credit practice.
“Niraj will be a senior member of KIAL’s alternative asset management team, he will add strength and depth to future plans and the goal of growing our platform at scale,” Sriniwasan said. .
KIAL, part of Kotak Mahindra Bank, focuses on the alternative asset sector. KIAL was established in early 2005 and has raised/managed/advised in total over $5.1 billion across various asset classes including private equity funds, real estate funds, infrastructure funds and funds for special situations. PI AA SP ANU ANU
(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)