Kotak Alternates to raise Rs.4,500-Cr real estate fund

Mumbai-headquartered Kotak Alternate Asset Managers , the alternative asset management arm of the Kotak Mahindra Group, plans to raise INR 4,500-Cr for its 16th real estate fund. The fund, titled Kotak Real Estate Fund XIV, includes a green shoe option of INR 1,500-Cr and a sponsor commitment of 15%. It has a seven-year tenure with provisions for two one-year extensions.The firm focuses on investments across the Indian real estate market, including residential, commercial, retail, hospitality, industrial, and warehousing assets. The fund intends to deploy a hybrid strategy using both debt and equity, with the geographical focus on Bengaluru, Chennai, Hyderabad, Pune, Mumbai, and Kolkata, alongside select tier-II cities.It aims to execute 15 to 20 transactions, providing growth capital to developers and addressing liquidity mismatches.