Kotak to launch Rs 1,350 cr Infra fund
The Kotak Mahindra Group said it is seeking to raise private equity funds of about $ 300 million from both domestic and international investors to invest in infrastructure projects in India.
The funds will invest primarily in power generation/ transmission, transport (roads, ports, airports) and other infrastructure water treatment and supply, waste management, gas transmission, distribution and storage facilities) projects and in infrastructure holding companies, a press release issued here stated. Kotak Investment Advisors, a group company, will manage the domestic fund and Kotak Mahindra (UK), another group company, will manage the off-shore fund.
Kotak Investment Advisors currently manages or advises nearly $ 1.2-billion of alternate assets. Kotak Mahindra (UK) and its international affiliates manage off-shore funds of close to $ 2.2-billion.
Sumitomo Mitsui Banking Corporation (SMBC) and Brookfield Asset Management (Brookfield) will participate in the Fund as cornerstone investors.