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Asia’s Richest Banker Weighs $1 Billion Real Estate Fund

  • ADIA, Allianz are among investors that could participate
  • Kotak Investment plans to complete fundraise by year-end
Uday Kotak
Uday KotakPhotographer: Simon Dawson/Bloomberg
Updated on

Kotak Investment Advisors Ltd., backed by Asia’s richest banker Uday Kotak, is looking to raise about $1 billion for a new fund dedicated to investing in India’s residential real estate, according to a person familiar with the matter.

Abu Dhabi Investment Authority could chip about $500 million into the property fund, while Allianz SE could invest about $220 million, said the person, who asked not to be identified as the information is private. Kotak Investment is also in advanced talks with other investors for the fundraising, the person added.