New Delhi: Kotak Alternate Asset Managers Ltd, the alternative asset management arm of the Kotak Mahindra Group, has announced the final close of the Kotak Yield & Growth Fund (KYGF) at ₹5,000 crore.
The fund was raised entirely from domestic investors, which includes institutional investors, family offices and Ultra High-Net-Worth Individuals (UHNIs) across India, according to the company.
With the final close completed, Kotak Alts will focus on deploying the fund’s capital across private credit, real assets and selective growth opportunities.
AIF
KYGF is a Category II AIF focused on generating attractive risk-adjusted returns by investing in a mix of stable, yield-generating assets and select growth opportunities. The sector-agnostic fund will target cash-flow-generating businesses, real assets, and mid- to large-sized companies with strong governance standards.
“The final close reflects the growing relevance of private credit and real assets in institutional portfolios and the confidence investors have placed in Kotak Alts’ capabilities,” said Eshwar Karra, deputy managing director, Kotak Alternate Asset Managers Ltd, in a statement. “We will remain focused on identifying high-quality opportunities and building a portfolio of cash flow-generating assets through structured credit solutions.”
“Raising ₹5,000 crore entirely from domestic investors is a strong endorsement of Kotak’s Private Credit and Real Assets franchise and of the opportunity India presents,” said Amit Jain, CEO Real Assets, Kotak Alts. The final close is an important milestone, but the real work begins now: deploying this capital responsibly and delivering strong risk-adjusted returns for our investors.”
On 9 September, Kotak Alternate Asset Managers said it had realised a twofold return on its investment in HKR Roadways Ltd, generating ₹1,650 crore from the sale of the road developer to Cube Highways and Infrastructure V Pte. Ltd. HKR Roadways operates a 206-km, four-lane state highway project in Telangana through a build-operate-transfer toll concession that runs until February 2041.
In February this year, Kotak Alts announced its first close of its Kotak Yield & Growth Fund at ₹3,900 crore (around $430 million),
Kotak Alternate, part of the Kotak Mahindra Group, is an alternative asset management and investment advisory firm with specialist teams across asset classes. Established in 2005, it has raised, managed and advised on more than $22 billion across private equity, real estate, infrastructure, special situations, private credit and investment advisory.
In September, Kotak Alternate Asset Managers appointed Pushkar Jauhari as chief executive of its private equity and venture capital business.
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