Online edition of India's National Newspaper
Saturday, Feb 11, 2006
Online edition of India's National Newspaper Saturday, Feb 11, 2006 |
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Corporate Reporter
CHENNAI: Kotak Mahindra Investments Ltd has announced that Kotak India Real Estate Fund-I, a close-ended venture capital fund scheme promoted by Kotak Mahindra Realty Fund, has closed its domestic tranche raising $ 100 million. In addition, the fund has received commitments of $ 60 million, which is awaiting regulatory approval. The fund, which has been organised as a scheme of Kotak Mahindra Realty Fund under the SEBI Venture Capital Regulations, has Kotak Mahindra Investments Ltd, as the investment manager. The fund would make investments at a project level with developers as well at an enterprise level in realty development companies. The fund has the mandate to make investments in retail, hotels, healthcare, education and other related sectors. The strategy of the fund would be to invest in the following types of opportunities: Company level investments with large development companies at a project level in various types of property development ventures, namely, mixed use schemes, hotels, residential, townships, offices, IT parks, shopping centres and the like.
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