ADIA’s commitment marks the sixth consecutive investment by an ADIA subsidiary in Kotak Alts’ real estate platforms. The relationship between the two institutions spans more than a decade and multiple fund vintages.
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“ADIA’s sixth consecutive commitment to our platform is a testament to the trust earned over a decade of consistent delivery. NPS Korea’s maiden Indian alternatives commitment to our platform for an India dedicated strategy in these volatile times is an equally powerful validation. Together, these partnerships define the quality of the Kotak Alts franchise and the confidence that global institutions place in our ability to generate superior risk-adjusted returns,” said Srini Sriniwasan, Managing Director, Kotak Alts.
The latest fund has received NPS Korea’s first-ever investment in Indian alternative assets. NPS Korea invests across private equity, real estate and infrastructure globally and has chosen Kotak Alts’ India-focused real estate strategy for its entry into the country’s alternatives market.
According to Kotak Alts, the 14th Real Estate Fund will provide growth and development financing support across residential, commercial and other real estate asset classes in key Indian cities. The strategy is aimed at generating risk-adjusted returns through underwriting, security structures and an investment process developed over 13 previous real estate fund vintages.
“The demand for capital to support real estate in India is robust, while Kotak has delivered consistent returns and displayed underwriting discipline across market cycles. This anchor commitment is testament to the strong relationship we have built over more than a decade,” said Mohamed Al Qubaisi, Executive Director of the Real Estate Department at ADIA.
The fund builds on Kotak Alts’ experience across 13 prior real estate fund vintages spanning more than two decades and covering multiple real estate cycles, regulatory transitions and liquidity environments.
“The 14th fund is built on the learnings of 13 prior vintages across multiple real estate cycles, regulatory transitions, and liquidity environments. That depth of institutional memory is what gives global investors like ADIA and NPS Korea the confidence to commit. We are proud to bring such sovereign funds and global pension funds as investors to a platform with this level of continuity, and on-the-ground market expertise,” said Vikas Chimakurthy, CEO, Kotak Alts (Real Estate Fund).
The fundraise adds to the participation of global sovereign wealth and pension funds in India’s real estate financing market, where institutional investors continue to deploy capital through private credit and structured real estate strategies.
Set up in 2005, Kotak Alts focuses on alternate asset management and investment advisory business. It has so far has raised, managed, and advised over $22 billion across different asset classes, including private equity, real estate, infrastructure, special situations, private credit, and investment advisory.