Kotak plans $2-bn private credit fund as demand rises

KOTAK ALTERNATE ASSET Managers is aiming to raise as much as $2 billion for its third private credit fund, stated Managing Director Srini Sriniwasan, highlighting strong investor appetite for the asset class even as global concerns grow.

- SAIKAT DAS

The firm is targeting a final close by September, and is betting on opportunities across sectors such as data centers, pharmaceutical, diagnostics, steel and cement, Sriniwasan said.

The launch comes at a time when private credit markets in the US have been shaken by a series of high-profile setbacks, with lenders marking down investments. Rising redemption requests have also forced firms including Morgan Stanley and Cliffwater to cap withdrawals from some of their funds.