Saturday, Apr 20 2024 | Time 02:47 Hrs(IST)
image
Business EconomyPosted at: Mar 19 2019 6:38PM


KIAL announces launch of new fund

Kolkata, Mar 19 (UNI): Kotak Investment Advisors Limited (‘KIAL’) today announced that it has launched a new fund which will partner with DivyaSree Developers (‘DivyaSree’), a leading Bengaluru-based real estate developer, to develop and acquire commercial office assets across India.

The $400 million India Office Assets Fund I is anchored by a wholly owned subsidiary of the Abu Dhabi Investment Authority (‘ADIA’) and is one of the largest dedicated commercial office development platforms announced in India. DivyaSree is the exclusive development partner and property advisor for the fund and KIAL will act as investment manager. It is structured as an Alternative Investment Fund under SEBI regulations.

The fund’s strategy is to develop greenfield projects as well as acquire under construction and completed assets across key commercial office markets in India.

Bhaskar N Raju, Managing Director of DivyaSree Developers said: “We currently provide quality commercial spaces across South Indian cities of Bengaluru, Hyderabad and Chennai, where DivyaSree is a major player. With this fund, we will consolidate our position in the three cities and also expand footprints in new key markets of Mumbai, Pune and National Capital Region (NCR).”

Vikas Chimakurthy, CEO of Kotak Realty Funds said: “We have a compelling opportunity to develop and operate quality commercial assets for marquee global customers. This is the first time in India where a financial institution and a developer have come together on a fund platform.”

S Sriniwasan, Managing Director & CEO, KIAL said: “As we scale the asset management business, we will work with likeminded partners and create appropriate platforms to address a variety of capital requirements in India.”
UNI PL
Please log in to get detailed story.
Tags: #KIAL announces launch of new fund
More News

"CSIR-IICT and BHEL partners to advance clean fuel technology: MoU signed on CO2 to DME"

19 Apr 2024 | 7:23 PM

Hyderabad, April 19 (UNI) The Council of Scientific and Industrial Research-Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate R&D have forged a partnership to develop technology for capturing and converting carbon dioxide (CO2) to Dimethyl Ether (DME) through direct catalytic conversion.

see more..

Amara Raja Infra Wins Greenko’s 700MWp solar project in AP

19 Apr 2024 | 6:41 PM

Hyderabad, Apr 19 (UNI) Amara Raja Infra Private Limited (ARIPL), part of the $1.75 billion Amara Raja Group, on Friday announced it has secured a solar BoS (Balance of System) project of 500MW/700MWp from Greenko.

see more..
Sensex recovers 600 points on heavy buying on last day of week

Sensex recovers 600 points on heavy buying on last day of week

19 Apr 2024 | 5:34 PM

Mumbai, April 19 (UNI) Snapping a losing streak of last four sessions, the BSE Sensex on Friday bounced back 599.34 points to close at 73088.33 on expectation of minimal escalation of tension between Israel and Iran.

see more..

19 Apr 2024 | 5:24 PM

Mumbai, Apr 19 (UNI) IT major Wipro on Friday reported 7.80% year-on-year dip in consolidated net profit at Rs 2,834.6 crore for January-March quarter (Q4) of the financial year 2023-24.

see more..
Rupee up 8 paise against USD

Rupee up 8 paise against USD

19 Apr 2024 | 5:05 PM

Mumbai, April 19 (UNI) The Rupee on Friday ended positive at 83.47, rising 8 paise against the USD on selling US Dollar by bankers and exporters, dealers at the Foreign exchange said.

see more..
image