Kotak integrates alternate funds, investment advisory businesses

Kotak Mahindra Group on Thursday said it has integrated the alternate funds and investment advisory businesses, and the combined quantum of assets raised or managed has now increased to $18 billion.

The group has also renamed Kotak Investment Advisors (KIA) as Kotak Alternate Asset Managers (KAAM).

Lakshmi Iyer, the Chief Executive Officer of the investment advisory business at KIA, told reporters that it has integrated the asset advisory and the asset management businesses, and the combined strength of the entity will be $18 billion of assets raised or managed.

It has raised dedicated funds for private equity, real estate, private credit, strategic situations, data centres and infrastructure over the last 17 years where the assets under management was $8.9 billion while under the investment advisory side, it manages $9.1 billion of assets.

"The name change reflects our strategy to harness the combined power of Rs 1.47 lakh crore capital and direct it to the best opportunities available in India across asset classes with global standards of transparency and governance," KAAM's Managing Director Srini Sriniwasan said.

Sriniwasan said it has had a consistent record of delivering higher returns for investors from whom it has raised while the investment advisory business works with 300 family offices and high net worth individuals.