ADIA helps Kotak raise $1 bn for realty fund; Korean pension body makes maiden India bet
Kotak Alternate Asset Managers has successfully raised $1 billion for its latest real estate fund, aided by significant commitments from major investors. The Abu Dhabi Investment Authority (ADIA) contributed $675 million, while the National Pension Service of Korea made its first investment in India's alternatives market. This marks a continued trend of international funds investing in India's real estate sector, reflecting strong demand for capital.
- ▪Kotak Alternate Asset Managers raised $1 billion for its 14th Real Estate Fund.
- ▪ADIA provided an anchor commitment of $675 million.
- ▪NPS Korea made its first investment in the Indian alternatives space.
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Kotak Alternate Asset Managers on Wednesday said it has raised $1 billion in commitments from investors to close its newest real estate fund.An anchor commitment of $675 million from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and also an undisclosed funding from the National Pension Service of the Republic of Korea (NPS Korea) helped achieve the close for its 14th Real Estate Fund, according to a statement.NPA Korea has over $1 trillion of assets under management, and this is its first investment in the Indian alternatives space, it added.So far, a slew of pension and sovereign wealth funds from countries such as Canada have been actively investing in India.Its managing director Srini Sriniwasan welcomed NPS Korea's bet in volatile times.
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