Kotak Investment Advisors Announce First Close Of $1.6 Bn KSSF II Fund

Kotak Investment Advisors Limited (KIAL) on Tuesday announced the first close of Kotak Strategic Situations Fund II IFSC (KSSF II). Domiciled in Gujarat’s GIFT City, the Fund has raised USD 1.25 billion of the targeted USD 1.6 billion corpus.

KSSF II fund will provide strategic solution capital across growth and value companies. The sector-agnostic fund will provide equity, debt capital and hybrid capital. 

Commenting on the announcement, Eshwar Karra, CEO-Kotak Special Situations Fund, Kotak Investment Advisors Limited said, “Riding on the success of the first Special Situations Fund, our Investors have reposed faith in us by re-upping their large commitments in the second fund. In line with the changing market, the fund is now positioned to provide strategic solution capital for unique circumstances and to finance the impending capex growth cycle that we expect to play out over the next couple of years.”

KIAL said that the impressive performance of the Kotak Special Situations Fund has seen significant commitments from international investors, including Sovereign Wealth Funds and Pension Funds investing in KSSF’ follow-on fund (KSSF II).

In a statement, Srini Sriniwasan, Managing Director, Kotak Investment Advisors Limited said, “In FY2023, Kotak Alternate Asset Management has successfully closed five large value funds aggregating ~ USD 3.6 billion of dedicated global capital targeting investment across industries and sectors like Infra, Real Estate and Data Centres. This close of KSSF II will take the aggregate funds raised to over USD 8.7 billion. Kotak Alternate Asset Management is establishing itself as India’s largest Multi Asset Manager for discerning Investors.”