Kotak Mahindra Bank arm to raise up to $1 billion for data centres

The firm did not reveal the fundraising plan, but sources said the lender planned to raise $500 mn-$1 billion

A Kotak Mahindra Bank arm plans to raise up to Rs 1 billion to invest in its data centre business.

Kotak Alternate Assets, a division of Kotak Investment Advisors (KIAL), on Friday announced the appointment of Subhamkar Das as the chief operating officer for the Kotak Data Centre Funds platform, according to an official statement.

The statement did not mention about the fundraising plans, but market sources said the private sector lender’s arm was planning to raise between $500-$1 billion for the fund, which will be ploughed into the data centre businesses.

KIAL has raised/managed/advised in aggregate of over $6.8 billion across different asset classes, including real estate, private equity, infrastructure, special situations fund, and investment advisory, since its inception in 2005. Typically, it raises money from investors to be betted on opportunities it sees for higher returns, and usually, it puts in its own money as well.

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