The Hindu Business Line
Kotak Special Situations Fund gets $1-billion investment commitment
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
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.