Kotak Mahindra AMC’s credit fund secures record ₹1,200 crore first close

Nilesh Shah, MD, Kotak Mahindra Asset Management Company
| Photo Credit:
EMMANUAL YOGINI

Kotak Mahindra Asset Management Company (KMAMC) announced today that its maiden credit Alternative Investment Fund, the Kotak Credit Opportunities Fund, has achieved its first close with a record raise of over ₹1,200 crore ($141.36 million).

The company reports this represents the largest first close by any performing credit fund in the Indian private credit industry. With this milestone, the fund has triggered its greenshoe option, having already reached 60 per cent of its target corpus of ₹2,000 crore.

The fund attracted investments from High Net Worth Individuals, Ultra High Net Worth Individuals, Family Offices, Corporate Treasuries, and Institutional investors, according to the announcement.

Registered as a SEBI Category II AIF, the fund aims to provide solution capital to emerging Indian corporates with strategic, opportunistic, and growth needs. It will focus on profitable businesses with established cash flows and proven business models.

Nilesh Shah, Managing Director of Kotak Mahindra AMC, emphasised the company’s commitment to supporting emerging corporates through strategic investments, expressing confidence in “the enduring potential of private credit in India.”

Saurabh Tripathi, Chief Investment Officer of Private Credit at Kotak Mahindra AMC, highlighted the growing acceptance of performing credit strategies under the AIF platform, particularly for emerging corporates seeking solution capital.