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Kotak Mahindra floats $400 mn fund with DivyaSree
Kotak Investment Advisors Ltd (KIAL) on Tuesday announced a $400 million fund in partnership with DivyaSree Developers to build and acquire commercial office assets across the country
Kotak Investment Advisors Ltd (KIAL) on Tuesday announced a $400 million fund in partnership with DivyaSree Developers to build and acquire commercial office assets across the country.
KIAL, an arm of Kotak Mahindra Bank, said in a statement that it launched a new fund which will partner with Bengaluru-based realty firm DivyaSree Developers to develop and acquire commercial office assets.
"The $400 million India Office Assets Fund I, is anchored by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and is one of the largest dedicated commercial office development platforms announced in India," it added.
DivyaSree is the exclusive development partner and property advisor for the fund and KIAL will act as investment manager. It is structured as an Alternative Investment Fund under SEBI regulations.
The fund's strategy is to develop greenfield projects as well as acquire under construction and completed assets across key markets in India.
