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Kotak and Allianz announce partnership to invest in Indian private credit market

Money manager Robert Marshall-Lee continued to buy Indian stocks even when the Modi govt’s decision to withdraw high-value bank notes spurred a selloff last November. Photo: Hemant Mishra/MintPremium
Money manager Robert Marshall-Lee continued to buy Indian stocks even when the Modi govt’s decision to withdraw high-value bank notes spurred a selloff last November. Photo: Hemant Mishra/Mint

  • Kotak Investment Advisors, a wholly owned subsidiary of Kotak Mahindra Bank, focuses on Alternate Assets business of the group. KIAL was set up to focus on the group’s alternate assets and has raised in aggregate $4.6 billion

MUMBAI: Kotak Investment Advisors Ltd (KIAL) and Allianz Investment Management SE, the investment management arm of insurance giant Allianz Group, on Monday announced a partnership for investing in the Indian private credit market.

In February, Allianz made its maiden credit investment of $150 million in KIAL’s 11th Real Estate Debt Fund that achieved a closure of $380 million, as per a joint statement by the companies.

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KIAL’s Real Estate Fund primarily focuses on financing early- and late-stage real estate projects across geographies in India.

Allianz’s total private credit investments in India so far is worth approximately $650 million and it is looking to increase it to $1 billion in 2021, the statement added.

"As a growth economy, Indian economy’s capital needs are spread across the spectrum of equity and credit. Our partnership blends on the strength of two partners. Allianz brings with it the much wanted large package of dry powder and KIAL has the expertise in identifying the right opportunities as and when they arise in India," said Uday Kotak, Managing Director & CEO, Kotak Mahindra Bank Ltd.

"We believe this partnership is a natural fit and will enable us to capitalize on the best private debt opportunities available in India. We continue to firmly believe in India’s long-term structural growth story and are keen to partner in its post-pandemic recovery and drive sustainable and inclusive growth," said Ritu Arora, CEO & CIO Asia, Allianz Investment Management Asia.

Kotak Investment Advisors, a wholly owned subsidiary of Kotak Mahindra Bank, focuses on Alternate Assets business of the group. KIAL was set up in early 2005 to bring a sharper focus to the group’s alternate assets and has raised in aggregate $4.6 billion across different asset classes including Private Equity Funds, Real Estate Funds, Infrastructure Funds, Special Situations Fund, Listed Strategies and Investment Advisory.

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