Informist, Monday, Apr 19, 2021
By Alekh Archana and T. Bijoy Idicheriah
MUMBAI – Kotak Investment Advisors Ltd is planning to launch an infrastructure credit fund to invest in stressed projects, Managing Director S. Sriniwasan said.
"We had some preliminary discussion on an infrastructure credit fund, but it is early days," Sriniwasan told Informist in an interview.
Kotak Investment Advisors is a wholly-owned subsidiary of Kotak Mahindra Bank.
Stress in the infrastructure sector is so large that its existing special situations fund cannot have a sector concentration, Sriniwasan said.
"The opportunities in the sector are so large that there is definitely a case for such concentrated fund," he said. "There is some interest but too early to say."
The company has dedicated $1-bln fund focused on opportunities in special situations like investor take-out financing, group restructuring, and distressed assets.
Launched in 2019, Kotak Special Situations Fund closed its first investment under the Insolvency and Bankruptcy Code last month when it acquired Prius Commercial Projects Pvt Ltd for 4.5 bln rupees.
Sriniwasan said that by end of April, the special situations fund will be 50-55% invested and if opportunities continues, maybe by end of 2021, it would have crossed the threshold of 75-80%.
"Then we will decide on fund raising," he said. "It also depends on other factors such as impact of COVID-19 and national asset reconstruction company. However, these are early days and nothing yet is decided on fund raising." End
US$1 = 74.8300 rupees
Edited by Ramya J.S. D'Rozario
Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist, Monday, Apr 19, 2021
By Alekh Archana and T. Bijoy Idicheriah
MUMBAI – Kotak Investment Advisors Ltd is planning to launch an infrastructure credit fund to invest in stressed projects, Managing Director S. Sriniwasan said.
"We had some preliminary discussion on an infrastructure credit fund, but it is early days," Sriniwasan told Informist in an interview.
Kotak Investment Advisors is a wholly-owned subsidiary of Kotak Mahindra Bank.
Stress in the infrastructure sector is so large that its existing special situations fund cannot have a sector concentration, Sriniwasan said.
"The opportunities in the sector are so large that there is definitely a case for such concentrated fund," he said. "There is some interest but too early to say."
The company has dedicated $1-bln fund focused on opportunities in special situations like investor take-out financing, group restructuring, and distressed assets.
Launched in 2019, Kotak Special Situations Fund closed its first investment under the Insolvency and Bankruptcy Code last month when it acquired Prius Commercial Projects Pvt Ltd for 4.5 bln rupees.
Sriniwasan said that by end of April, the special situations fund will be 50-55% invested and if opportunities continues, maybe by end of 2021, it would have crossed the threshold of 75-80%.
"Then we will decide on fund raising," he said. "It also depends on other factors such as impact of COVID-19 and national asset reconstruction company. However, these are early days and nothing yet is decided on fund raising." End
US$1 = 74.8300 rupees
Edited by Ramya J.S. D'Rozario
Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
