Kotak Alternate Asset Managers Ltd (Kotak Alts), the alternative investment arm of the Kotak Group, on Thursday announced the first close of its Kotak Yield & Growth Fund at $430 million (approximately Rs 3,900 crore).
The category II alternative investment fund (AIF) is targeting a total corpus of Rs 5,000 crore in the final close, the firm said in a statement.
According to the company, the fund has received commitments from domestic family offices, ultra high-net-worth individuals (UHNIs), and Indian insurance companies in the first close.
Kotak Yield & Growth Fund is a sector-agnostic strategy focused on investing in cash-flow-positive, mid- to large-sized enterprises with established governance standards. The fund seeks to participate in India’s private credit market by investing in businesses with stable cash flows and defined exit structures.
“The strong response to our first close reflects deep investor confidence in Kotak Alts’s investment philosophy, risk management framework, and execution capabilities. In an evolving credit environment, investors increasingly seek predictable income with downside protection. The Kotak Yield & Growth Fund is well positioned to meet this demand through a disciplined and opportunity-driven approach,” said Amit Jain, Chief Executive Officer, Kotak Yield & Growth Fund.
Kotak Alts focuses on alternate asset management and investment advisory businesses. The company was set up in early 2005 and has raised, managed, and advised over $22 billion across different asset classes, including private equity, real estate, infrastructure, special situations, private credit, and investment advisory. The asset management business and investment advisory vertical are managed by independent specialist teams.
