The Hindu Business Line

Ko­tak Spe­cial Sit­u­a­tions Fund gets $1-bil­lion in­vest­ment com­mit­ment

- Business · Finance · Venture Capital · Investing · Abu Dhabi · Securities and Exchange Board of India · Reserve Bank of India · Kotak Mahindra Bank · Kotak Mahindra Bank

Ko­tak In­vest­ment Ad­vi­sors, a wholly-owned sub­sidiary of Ko­tak Mahin­dra Bank, has closed its Ko­tak Spe­cial Sit­u­a­tions Fund with ag­gre­gate com­mit­ments of $1 bil­lion.

The fund was launched in Fe­bru­ary 2019 and was an­chored by a $500-mil­lion com­mit­ment from a whol­ly­owned sub­sidiary of Abu Dhabi In­vest­ment Au­thor­ity.

The Ko­tak Spe­cial Sit­u­a­tions Fund is an Al­ter­na­tive In­vest­ment Fund (AIF) un­der SEBI reg­u­la­tions, man­aged by the Al­ter­nate As­set Man­age­ment

The fund has a flexible in­vest­ment man­date to pro­vide the much-needed cap­i­tal to ad­dress the short-term fi­nan­cial dis­lo­ca­tion in the mar­ket

AMC, Ko­tak

Ad­vi­sors.

Srini Srini­wasan, Man­ag­ing Direc­tor, Ko­tak In­vest­ment Ad­vi­sors, said the fund has been closed at an op­por­tune time.

The fund has a flexible in­vest­ment man­date to pro­vide the much-needed cap­i­tal to ad­dress In­vest­ment the short-term fi­nan­cial dis­lo­ca­tion in the mar­ket, as well as the long-term cap­i­tal to ad­dress the non-per­form­ing loan is­sue.

Esh­war Karra, CEO, Ko­tak Spe­cial Sit­u­a­tions Fund, said there has been a ro­bust pipe­line of trans­ac­tions com­ing through as struc­tured credit solutions and po­ten­tial set­tle­ment of non-per­form­ing loans un­der the new RBI dis­pen­sa­tion. This is in ad­di­tion to the op­por­tu­ni­ties that arise out of the IBC process, be­sides sig­nif­i­cant op­por­tu­nity to pro­vide be­spoke fi­nanc­ing in a range of sit­u­a­tions.

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