Kotak Alternate Asset Managers (Kotak Alts) has achieved the final close of its 14th real estate fund at $1 billion, according to media reports.
The fund was anchored by a commitment of more than $675 million from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and is also supported by a maiden investment in Indian alternatives from the National Pension Service of the Republic of Korea (NPS Korea).
This marks ADIA’s sixth consecutive investment in Kotak Alts’ real estate platforms.
The fund will provide growth and development financing across residential, commercial, and other real estate asset classes throughout India.
Established in 2005, Kotak Alts has raised more than $22 billion to date across private equity, real estate, infrastructure, special situations, private credit, and investment advisory strategies.
In the credit space, the firm recently backed infrastructure developer Vishwa Samudra Group through the Kotak Yield and Growth Fund, which achieved its first close in February 2026, marking the fund’s inaugural investment.
In other real estate activity, the H-DREAM Fund, managed by HDFC Capital Advisors, recently secured commitments from the Development Bank of Japan (DBJ). The platform, which invests in affordable and mid-income residential real estate, has a target corpus of $500 million, along with a greenshoe option of an additional $500 million.
