Mumbai, February 12 Kotak Alternate announced on Thursday a fundraise of ₹3,900 crore, which will be invested in private credit opportunities.
The entire amount has been raised from domestic investors, including family offices, Ultra High-Net-Worth Individuals (UHNIs), and insurers.
Kotak Alternate Asset Managers aims to raise ₹5,000 crore for the "Kotak Yield and Growth Fund," and the ₹3,900 crore is the largest-ever first round fundraise by an Indian platform from the domestic market, it claimed in a statement.
The sector-agnostic fund will focus on risk-adjusted returns through a blend of stable yield-generating assets and selective growth opportunities.
It will lend to cash-flow-positive assets, mid to large-sized enterprises with strong governance practices, and capital preservation is among the guiding factors influencing the investment philosophy.
Kotak Alternate Managing Director Srini Sriniwasan said this is the first time that it has raised a fund from domestic investors, and the fund has been solely raised through Kotak Private Banking relationships.
"In an evolving credit environment, investors increasingly seek predictable income with downside protection," said the fund's chief executive Amit Jain.