Kotak Investment Advisors, which launched its maiden `1,500-crore fund of funds (FoF) earlier this month, hopes to make the first close by the middle of September, garnering around `500 crore.
Established in 2005, Kotak Investment Advisors is the largest homegrown alternate asset fund, managing USD 5.7 billion (around `45,000 crore) across, real estate funds, infrastructure funds, special situations fund, listed strategies (stocks), and pre-IPO investments.
Its stressed assets fund is the largest in Asia with assets under management worth over USD 1 billion (about `7,900 crore).
According to a Crisil report, as of March 2022, the total investment commitments in the alternate investment funds (AIF) industry stood at `4.41 lakh crore between category I, II and III funds.
Of the total `2.33 lakh crore of incremental fund inflows between FY21 and FY22, `31,988 crore were into 93 category I funds, which are mostly early-stage venture capital and social impact funds; `1,47,654 crore into 240 category II funds (listed and unlisted equity funds, realty and debt funds) and `53,413 crore into 170 category III funds, which are long-only and short-only equity funds.
The Kotak India Alternate Allocation Fund, which was launched on August 3, is the maiden fund of funds (FoF) from the company.