Kotak's data centre fund makes first close at $590-M

Kotak Alternate Assets has marked the first close of its Kotak Data Centre Fund at USD 590 million. The fundraise is about 74% of the targeted corpus of USD 800 million. The fund is domiciled in Gujarat's GIFT City. The Kotak Data Centre Fund, announced in November last year, will invest in building data centre capacity, enterprise cloud, 5G and IoT (Internet of Things). Set up in 2005, Kotak Investment Advisors is the alternate assets management and investment advisory arm of the Kotak Mahindra Group. It has, raised, managed, and advised over USD 7.5 Billion across asset classes.