New Delhi, May 28 -- Kotak Alternate Asset Managers (Kotak Alts) has named two new managing partners.
Kotak Alts, which offers investment products across special situations, private equity, real estate, infrastructure, and private credit, has raised $1 billion for its first special situations fund and $1.5 billion for its second fund.
The firm has elevated Rahul Shah and Rahul Chhaparwal as managing partners.
Prior to their promotion, both Shah and Chhaparwal served as partners at the firm.
Shah has spent nearly 14 years at Kotak Alts in various roles. As partner, he focussed on investments in strategic situations and data centers, including growth capital, acquisition financing, investor takeouts, mezzanine capital, and hybrid investments. Earlier, he worked at Multiples Alternate Asset Management.
Meanwhile, Chhaparwal has been with Kotak Alts for over seven years. In his previous role, he played a key role across various aspects of the Kotak Special Situations Fund's operations, including fundraising, investor relations, deal origination, investments, and asset management. He has also represented the fund on the boards of several investee companies.
Kotak Special Situations Fund-I invested in companies such as Jindal Stainless, Biocon Biologics, and Omniactive Health. The second fund, backed by Singapore's GIC, the Abu Dhabi Investment Authority, and PremjiInvest, has backed six companies, including Viney Corporation, RattanIndia Power, and Cropnosys.
Earlier this year, the firm launched Kotak Strategic Situations Fund-III, targeting a corpus of $2 billion.
Separately, it raised $430 million in the first close of its private credit vehicle, Kotak Yield and Growth Fund.
Published by HT Digital Content Services with permission from VC Circle.