ADIA helps Kotak raise $1 bn for realty fund; Korean pension body makes maiden India bet

Kotak Alternate Asset Managers connected Wednesday said it has raised $1 cardinal successful commitments from investors to adjacent its newest existent property fund.

An anchor committedness of $675 cardinal from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and besides an undisclosed backing from the National Pension Service of the Republic of Korea (NPS Korea) helped execute the adjacent for its 14th Real Estate Fund, according to a statement.

NPA Korea has implicit $1 trillion of assets nether management, and this is its archetypal concern successful the Indian alternatives space, it added.

So far, a slew of pension and sovereign wealthiness funds from countries specified arsenic Canada person been actively investing successful India.

Its managing manager Srini Sriniwasan welcomed NPS Korea's stake successful volatile times. This is the sixth consecutive clip that ADIA has invested successful a fund.

"The request for superior to enactment existent property successful India is robust, portion Kotak has delivered accordant returns and displayed underwriting subject crossed marketplace cycles," Mohamed Al Qubaisi, enforcement manager of the existent property section astatine ADIA, said.