Kotak Alternate Assets, managed by Kotak Investment Advisors Limited (KIAL), said on Wednesday that it would raise up to Rs 2,000 crore from investors to lend to mid-market growth-based companies.
The Kotak Private Credit Fund will be an alternative investment fund of Rs 1,000 crore Division II and will have a greenshoe option to raise another Rs 1,000 crore.
The platform will focus on the performing credit space and lend to growth-oriented companies with established business models in the mid-market to secure the return of middle-aged adolescents, a statement said.
Srinivasan, managing director of KIAL, said the fundraising efforts are in line with the developing personal credit ecosystem and will help KIAL to make its mark in the field of credit investment by investing in secure credit.
KIAL has hired Neeraj Kariya from Buyout Major KKR to lead the personal credit practice.
“Neeraj will be a senior member of the KIAL Alternate Asset Management team. He will add strength and depth to our platform for future planning and scale building,” said Srinivasan.
KIAL, a part of Kotak Mahindra Bank, focuses on alternative assets business. KIAL was established in early 2005 and has raised / managed / advised over USD 5.1 billion in various asset classes, including private equity funds, real estate funds, infrastructure funds and special circumstances funds.