Funds managed
| Fund name | Asset class | License |
| Kotak India affordable housing fund – I | Real estate | SEBI AIF CAT 2 |
| Kotak India real estate fund VIII | Real estate | SEBI AIF CAT 2 |
| Kotak India real estate fund – IX | Real estate | SEBI AIF CAT 2 |
| India office assets funds I | Real estate | SEBI AIF CAT 2 |
About
Kotak Investment Advisors Limited is a non-govt company, incorporated on 31 mar, 1994. It’s a public unlisted company and is classified as a company limited by shares. It offers management and consulting services. The company provides investment management and advisory services. Kotak Investment Advisors serves hotels, IT parks, residential homes, and warehouses.
Key staff
S. Sriniwasan, Managing Director – S. Sriniwasan (Srini) has been with the Kotak Group since 1993 and currently heads Kotak Investment Advisors Limited (KIAL), a wholly owned subsidiary of Kotak Mahindra Bank. Srini established one of India’s first Real estate funds in 2005 and steered the growth of the business since its launch to USD 2.2 billion (funds raised till date). Srini also oversees Kotak Private Equity, Kotak Infrastructure Funds, Kotak Special Situations Fund, Kotak Listed Strategies, Investment Advisory and Kotak Cherry. Overall, KIAL has raised about USD 4.7 billion in funds across these asset classes. As one of the earliest fund managers to raise and invest capital in India, Srini has introduced significant financing, financial structuring and negotiating skills in the alternate assets industry. Srini holds a Bachelor’s degree in Commerce from Delhi University and an MBA from the Institute of Management Technology (IMT), Ghaziabad.
Vikas chimakurthy CEO – Realty Fund – Vikas Chimakurthy joined the Kotak Investment Bank in 1999 and has over 21 years of work experience in the financial services industry. Vikas moved to Kotak Realty Fund in 2007. He is a Chief Executive Officer at Kotak Realty Fund where he oversees fund raising and investments and divestments. Prior to Kotak Realty Fund, Vikas was in the M&A team of Kotak Investment Banking. His last role in the investment bank was as the head of the real estate and energy sector verticals. He had set up the coverage of the realty sector for Kotak Investment Banking. He has led several M&A transactions across sectors such as energy, telecom, technology, media and chemicals. He was also appointed as part time advisor to the Board of IL&FS after Government of India took control to resolve the issues. Vikas holds a Bachelor’s degree in Technology from the Indian Institute of Technology (IIT) Delhi, and an MBA from Faculty of Management Studies (FMS), Delhi University.
Chetan shah Executive director – Chetan joined Kotak realty fund in 2018 as executive director. Prior to Kotak, Chetan worked with ASK Property Investment Advisors Pvt. Ltd., where he was a core team member of the real estate fund team. Chetan has earlier also worked with ICICI bank ltd. In their corporate and realty finance, hypo real estate international and IL&FS. Chetan is a commerce graduate from Mumbai University and a chartered accountant.
Sonu jalan Executive director – Sonu jalan joined the Kotak Mahindra group in 2006 and has over 12 years of professional experience. Sonu joined Kotak realty fund in 2011. Sonu is a chartered accountant and has cleared all three levels of the chartered financial analyst (CFA institute, USA) program.
Investment philosophy
The fund management team has identified critical quantitative and qualitative parameters to screen each of its targets. The key theme of the fund is to invest in and patiently hold companies for a long period of time for the compounding effect to play out and for the true value of the investment to be realized.
The fund has consciously chosen to primarily invest in companies with a market capitalization in the range of INR 10 billion (~USD 150 million) to INR 200 billion (~USD 3 billion), based on its analysis.
About Kotak Realty Fund class
Kotak realty fund is part of Kotak investment advisors which is under Kotak Mahindra bank. Established in 2005, Kotak realty fund focuses solely on investments in real estate across different asset classes and cities in India. Kotak realty fund has raised in aggregate over US$1.62 billion.
Media
Interview of S Sriniwasan, Managing Director, Kotak Investment Advisors Ltd
https://vimeo.com/moneymgmtIndia
Summary – yet to be done
Kotak India’s affordable housing fund to invest in Shriram Properties project
“This investment is in alignment with our strategy of affordable housing fund with CDC Group, to invest in affordable housing projects with a developer of repute and proven capabilities. Affordable housing is the need of the hour in the country and we are happy to do our bit with our LPs (limited partners),” said S. Sriniwasan, managing director and CEO, Kotak Investment Advisors
Kotak Investment Advisors eyes stuck projects in real estate
Kotak Investment Advisors, the alternate investment business of Kotak Mahindra Group, is eyeing distressed projects in the real estate sector and looking to acquire such projects across the country through its realty fund. Kotak Realty Fund has raised $1.8 billion so far and has dry powder of around $500 million, or Rs 3,500 crore. As part of its strategy, in the first two stuck projects, the fund infused capital, provided an exit to existing financiers, got the project completed and stabilised. Its real estate funds are currently looking at four to five such stuck projects that can be revived and completed soon.
Kotak Realty Fund partners Bangalore developer to buy office assets
Kotak Investment Advisors Limited (KIAL) on Tuesday announced that it has launched a new fund which will partner with DivyaSree Developers (DivyaSree), a leading Bengaluru-based real estate developer, to develop and acquire commercial office assets across India.
The $400 million India Office Assets Fund I is anchored by a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and is a dedicated commercial office development platform. 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 commercial office markets in India.
Kotak raises $380 mn in eleventh realty fund, total mop-up crosses $2.2 bn
Latest fund set up as AIF, will target early-stage and late-stage projects in residential, commercial, retail, warehousing and hospitality sectors
Kotak International REIT FOF – invests in the largest Asia-pacific* REIT fund
unlike in India, where the listed real estate investment trust invest majorly in office spaces. Investments in SMAM Asia REIT Sub Trust Fund will offer a diversified investment portfolio in residential, office, data centers, warehousing, retail and hospitality.
Source: https://assetmanagement.Kotak.com/Kotak-international-REIT-fof/
Analyst questions
- What is your investment philosophy? Please explain in detail.
- What returns your realty funds have given over the years?
- How is your AMC different from your peers and competitors?
- Why should i invest in your realty funds?
- Tell us more about your Kotak international REIT fund.
- Why is information regarding the funds not provided on your companies website?
- How much growth do you see in your company over future years?
- Have this pandemic effected your funds? If yes, what was your strategy to face that?
References
https://economictimes.Indiatimes.com/company/Kotak-investment-advisors-limited/u65990mh1994plc077472
https://alternateassets.Kotak.com/investment-team.php
Prepared by – Janhavi Poojary, June 2021
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