Kotak Alternate Assets, managed by Kotak Investment Advisors Limited (KIAL) today announced plans to launch a Rs 1,000 crore Private Credit Fund under the alternative investment fund (AIF) category II.
The fund will have a diversified investment universe and be sector-agnostic. The Kotak Private Credit Fund will also have a greenshoe option to raise another Rs 1,000 crore.
The fund will focus on the performing credit space, providing debt to growth-oriented companies with established business models in the midmarket space to secure mid to high teen returns.
KIAL has appointed Niraj Karia, formerly with KKR to lead the Kotak Private Credit practice.
Srini Sriniwasan, Managing Director, KIAL said, “It’s a homecoming for Niraj (Karia) who will help us built the Private Credit business at KIAL. Niraj will be a senior member of KIAL Alternate Asset Management team, he will add strength & depth to the future plans and objective of building scale to our platform. The effort to raise a Private Credit Fund comes at an opportune time, coinciding with the evolving Private credit ecosystem and will help increase our footprint in the credit investment space by making secured credit investments in mid-sized businesses while generating superior returns for our investors.”