The Category II Alternative Investment Fund (AIF) had raised ₹3,900 crore at its first close in February 2026. Its final close saw commitments from institutional investors, family offices and ultra-high-net-worth individuals (UHNIs) in India.
The sector-agnostic fund will invest across private credit, real assets and selective growth opportunities. According to Kotak Alts, it will focus on cash-flow-generating businesses, real assets and mid- to large-sized enterprises with strong governance practices.
The fund aims to generate risk-adjusted returns through a combination of yield-generating assets and growth opportunities, with the firm saying it will use structured credit solutions as part of its investment approach.
“The final close reflects the growing relevance of private credit and real assets in institutional portfolios and the confidence investors have placed in Kotak Alts’ capabilities,” Eshwar Karra, Deputy Managing Director, Kotak Alternate Asset Managers, said.
With the final close, Kotak Alts will now focus on deploying the ₹5,000 crore corpus across private credit, real assets and selected growth opportunities.
Amit Jain, CEO, Real Assets, Kotak Alts, said the fund’s domestic fundraising reflected the opportunity the firm sees in India’s private markets, adding that the focus would now be on deploying the capital and generating risk-adjusted returns for investors.Kotak Alts said it has raised, managed or advised more than $22 billion across private credit, real estate, real assets, private equity and investment advisory businesses since its establishment in 2005.