Kotak to launch $ 300-mn India Infrastructure Funds

MUMBAI: The Kotak Mahindra Group today said it is seeking to raise private equity funds of about $ 300 million from both domestic and international investors to invest in infrastructure projects in India.

The funds will invest primarily in power generation/ transmission, transport (roads, ports, airports) and other infrastructure (water treatment and supply, waste management, gas transmission, distribution and storage facilities) projects and in infrastructure holding companies, a press release issued here stated.

Kotak Investment Advisors Ltd., a group company, will manage the domestic fund and Kotak Mahindra (UK) Ltd, another group company, will manage the off-shore fund.

Kotak Investment Advisors currently manages or advises nearly $ 1.2-billion of alternate assets. Kotak Mahindra (UK) and its international affiliates manage off-shore funds of close to $ 2.2-billion.

Sumitomo Mitsui Banking Corporation (SMBC) and Brookfield Asset Management (Brookfield) will participate in the Fund as cornerstone investors.

The three entities together will contribute up to 22.5 per cent of the funds' capital, the release said.

SMBC is one of the largest banks in Japan and is a leading infrastructure advisor and project financier, while Brookfield is a leading global real estate, renewable power and infrastructure asset owner, operator and manager with assets under management of over $ 100-billion, which includes over $ 30-billion in renewable power and infrastructure.