Kotak targets $2-B for new private credit fund

Kotak Alternate Asset Managers Ltd plans to raise USD 2 Billion for a new private credit fund. The fund will offer acquisition funding, equity-backed loans, and annuity assets that generate steady cash flow.The fund aims to seek an investment return in the 18%-20% range with tenors ranging from four to seven years. The fund will be open for subscription to both offshore and local investors.Kotak Alternate manages about USD 20 Billion, with over USD 6 Billion spread across 14 private credit funds.