Kotak Investment Advisors, AIDA form $590 mn realty fund for office spaces

This is Kotak Investment Advisors's 12th real estate fund and with it, the firm has so far raised, managed, or advised over $2.8 billion under its real estate fund series

Kotak Investment Advisors Ltd (KIAL), the alternate assets business of Kotak Mahindra Bank, said on Monday that it has formed a $590 million real estate fund with Abu Dhabi Investment Authority (AIDA) for investments in office assets in India.

This is KIAL's 12th real estate fund and will be domiciled in Gujarat’s GIFT City. With this new fund, KIAL has so far raised, managed, or advised more than $2.8 billion under its real estate fund series.

"With the closure of this fund, we have raised around $1 billion in real estate in the last one year," said Vikas Chimakurthy, CEO,