Kotak Alternate Assets, managed by Kotak Investment Advisors Ltd (KIAL), on Wednesday mentioned it is going to elevate as much as Rs 2,000 crore from traders for lending to growth-oriented firms within the mid-market house.
The Kotak Private Credit Fund might be a Rs 1,000 crore alternate funding fund of class II and there might be a greenshoe possibility to lift one other Rs 1,000 crore.
The platform will concentrate on the performing credit score house and supply debt to growth-oriented firms with established enterprise fashions within the mid-market house to safe mid to excessive teen returns, a press release mentioned.
Srini Sriniwasan, Managing Director of KIAL, mentioned the trouble to lift the fund coincides with the growing non-public credit score ecosystem and can assist KIAL improve its footprint within the credit score funding house by making secured credit score investments.
KIAL has additionally appointed Niraj Karia from buyout main KKR to steer the non-public credit score apply.
” Niraj might be a senior member of KIAL Alternate Asset Management group, he’ll add power and depth to the long run plans and goal of constructing scale to our platform,” Sriniwasan mentioned.
KIAL, part of the Kotak Mahindra Bank, focuses on the alternate property enterprise. KIAL was arrange in early 2005 and has raised/managed/suggested in mixture over USD 5.1 billion throughout totally different asset courses together with non-public fairness funds, actual property funds, infrastructure funds, and particular conditions fund.
Source: www.financialexpress.com”