Kotak Investment Advisors announces first close of Kotak Strategic Situations Fund II IFSC

Kotak Investment Advisors Ltd (KIAL) has announced the first close of Kotak Strategic Situations Fund II IFSC (KSSF II).

Domiciled in Gujarat’s GIFT City, the Fund has raised $1.25 billion of the targeted $1.6 billion corpus and will provide strategic solution capital across growth and value companies. The sector-agnostic fund will provide equity, debt capital and hybrid capital.

International investors including Sovereign Wealth Funds & Pension Funds have shown significant commitments in investing in the KSSF’ follow-on fund (KSSF II).

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.”

Rahul Chhaparwal, Executive Director – Kotak Special Situations Fund, Kotak Investment Advisors Ltd said “Global capital availability and the return parameters that meet a relative value proposition for India has changed in the last six months. Domestic capital availability will also recalibrate basis the latest budget announcements. This fund raise has come at an appropriate time to serve corporate India with a unique positioning.”

Srini Sriniwasan, Managing Director, Kotak Investment Advisors Ltd said, “In FY2023, Kotak Alternate Asset Management has successfully closed five large value funds aggregating ~ $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 $8.7 billion.”