ADIA, NPS Korea Invest $1B in Kotak India Realty Fund

Mumbai, Jun 3 (PTI) Kotak Alternate Asset Managers on Wednesday said it has raised USD 1 billion in commitments from investors to close its newest real estate fund.

An anchor commitment of USD 675 million from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and also an undisclosed funding from the National Pension Service of the Republic of Korea (NPS Korea) helped achieve the close for its 14th Real Estate Fund, according to a statement.

NPA Korea has over USD 1 trillion of assets under management, and this is its first investment in the Indian alternatives space, it added.


So far, a slew of pension and sovereign wealth funds from countries such as Canada have been actively investing in India.

Its managing director Srini Sriniwasan welcomed NPS Korea's bet in volatile times. This is the sixth consecutive time that ADIA has invested in a fund.

"The demand for capital to support real estate in India is robust, while Kotak has delivered consistent returns and displayed underwriting discipline across market cycles," Mohamed Al Qubaisi, executive director of the real estate department at ADIA, said.