Indian real estate fund raises $100 million

Kotak plans a diverse strategy for investing its private equity property fund.
February 28, 2006
Kotak Mahindra Realty Fund has announced that its new Kotak India Real Estate Fund has closed its domestic tranche raising $100 million. It is a close-ended venture capital fund scheme under the SEBI Venture Capital regulations and has Kotak Mahindra Investments acting as the investment manager.

Further commitments of $60 million have been received, and the fate of those additional pledges awaits regulatory approval.

The Realty fund operates with a 2 and 20 fee structure and joins another Kotak private equity fund, the $160 million Kotak SEAF fund, that invests in broader small and medium enterprises.

This real estate fundÆs strategy is fourfold. Firstly it looks for co-investments with development companies at a project level,...
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