$200 Million Raised by Kotak Global Realty Fund

November 19, 2007	(Be the first to rate this story!)  Loading ...
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In its first closure, Kotak India Real Estate International fund has raised $ 200 million. Investors from the US, Europe and Japan have put in money, betting on the booming Indian Realty Market.

Kotak targets to gather an amount of Rs 1,500 crore. According to sources, the same will complete in the next two quarters from countries including Germany and Korea.

Kotak’s investment strategy is to participate in the estimated $45-50 billion expansion across the real estate sector in India in the next four years. The company plans to capitalize on lucrative real estate investment opportunities across all sectors including commercial, residential, retail, lodging, leisure etc.

Kotak Realty Fund arm’s assets under management are now $700 million which includes $500 million from KIREF-1 and Kotak Indian Alternate Opportunities Fund and $200 million from KIREF International Fund.

KIREF-I had raised Rs 450 crore, which has been fully invested in nine realty companies. The list includes Shobha Developers, NDR Warehousing, Lemon Tree Budget Hotels, and Pride Hotels among others.

Kotak India Alternate Opportunities Fund, which primarily focuses on real estate and allied opportunities, raised an aggregate amount of over Rs 1,600 crore ($400 million).

News Published Under:   Real Estate India |

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