Kotak Investment Advisors intends to raise ₹1,500 crore to increase its investments in consumer, technology company
Kotak Investment Advisorsannounced the launch of Kotak India Alternative Allocation Fund.
- It is a
fund of fundsto invest in other private equityand venture capitalfunds besides direct investments in companies.
- The company aims to diversify its investment across different investment avenues in multiple sectors.
AdvertisementKotak Investment Advisors Ltd (KIAL) on Tuesday announced the launch of Kotak India Alternate Allocation Fund, a fund of funds (FoF) to invest in other private equity (PE) and venture capital (VC) funds, besides directly investing in companies.
The fund targets to raise ₹1,500 crore, including a greenshoe option of ₹750 crore. The objective of the new fund of funds is to diversify across different investment avenues in multiple sectors, including consumer, technology, healthcare, financials and more.
It also intends to invest some portion into co-investment opportunities available from such investee funds.
“Indian alternate ecosystem has become vibrant with PE/VC fund managers delivering consistent returns and outperformance over public benchmarks. But many of the marquee fund managers have been inaccessible to domestic investors as they raised only offshore capital or had high minimum ticket investment requirements,” said Srini Sriniwasan, managing director of Kotak Investment Advisors.
He added that Kotak Investment Advisors intended to enable access to such funds and increase domestic overall participation in the Indian alternates industry.
“Lack of knowledge and information availability in this asset class makes it difficult to make an informed choice. Diversification of risk across managers is tough due to high minimum investment requirements. Through Kotak’s fund of funds we intend to provide investors access to multiple funds as well as leverage our institutional diligence,” Nidhi Chawla, fund manager at Kotak India Alternate Allocation Fund added.
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