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Kotak Alternate assets to launch ₹1000cr pvt credit fund

May 19, 2022

Kotak Alternate assets to launch ₹1000cr pvt credit fund
Kotak Alternate Assets, managed by Kotak Investment Advisors Limited (KIAL), on May 18 announced plans to launch a ₹1,000-crore private credit fund under the alternative investment fund (AIF) classification II.

The fund will have a diversified investment universe and will be sector-agnostic. It will likewise have a green-shoe choice to raise another ₹1,000 crores and will focus on the performing credit space, providing debt to growth-oriented companies with established business models in the mid-market space to secure mid to high teen returns.

KIAL has delegated Niraj Karia, previously with KKR, to lead the Kotak Private Credit practice, the announcement added. As indicated by his Linkedin profile, Karia had burned through four years as a Director at the lump section private equity firm and was already an Executive Director at Kotak Investment Banking for over 13 years.

Srini Sriniwasan, Managing Director, KIAL said, “It’s a homecoming for Niraj (Karia) who will help us with building the Private Credit business at KIAL. Niraj will be a senior member of KIAL Alternate Asset Management group, he will add strength and depth to the future plans and objective of building scale to our platform.”

“The effort to raise a private credit fund comes at an opportune time, matching with the advancing private credit environment and will assist with increasing our footprint in the credit investment space by making got credit interests in medium-sized businesses while creating superior returns for our investors,” Sriniwasan added.

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