Private Equity

PE-RE Fund Investments

Kotak Realty, Guardians Real Estate set up development management joint platform

Economic Times  

Kotak Investment Advisors' real estate private equity fund Kotak Realty Fund has formed an alliance with The Guardians Real Estate Advisory to set up a development management platform. Kotak Realty Fund has earmarked INR 2,000 crore for lending to real estate projects to be managed by the joint venture company. The platform to be known as Ground Holding Realty will help mid-sized developers and landowners develop and monetise their assets. The joint venture entity has set up a 35-member team. Vrushank Mehta from Warburg- Runwal retail development platform will be joining as the chief executive officer (CEO) of the JV. While Kotak will be the financing partner, Ground Holding Realty will be responsible for the development, sales & marketing efforts. In addition to providing the much-needed last mile financing to stressed projects, the Kotak-Guardian joint venture will also develop and execute these projects.