Kotak Alternate Asset Managers (Kotak Alts), the alternative asset management arm of Kotak Mahindra Group, has marked the final close of its Kotak Yield & Growth Fund (KYGF) at nearly $522 million (Rs 5,000 crore), with the entire corpus raised from domestic investors.
The fund, which had secured a first close of Rs 3,900 crore in February 2026, received commitments from institutional investors, family offices and ultra-high-net-worth individuals (UHNIs) across India, the firm said in a statement.
KYGF is a Category II alternative investment fund (AIF) focused on generating risk-adjusted returns through a mix of yield-generating assets and selective growth investments. The sector-agnostic fund will invest in cash-flow-generating businesses, real assets and mid-to-large-sized enterprises with strong governance practices.
“The final close reflects the growing relevance of private credit and real assets in institutional portfolios and the confidence investors have placed in Kotak Alts’ capabilities. We will remain focused on identifying high-quality opportunities and building a portfolio of cash flow-generating assets through structured credit solutions,” said Eshwar Karra, Deputy Managing Director, Kotak Alternate Asset Managers Limited.
With the final close, Kotak Alts will focus on deploying the fund’s capital across private credit, real assets and selective growth opportunities.
Established in 2005, Kotak Alts raised, managed, or advised over $22 billion across private credit, real estate, real asset, private equity, and investment advisory.
