The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
Further commitments of $60 million have been received, and the fate of those additional pledges awaits regulatory approval.
The Realty fund operates with a 2 and 20 fee structure and joins another Kotak private equity fund, the $160 million Kotak SEAF fund, that invests in broader small and medium enterprises.
This real estate fundÆs strategy is fourfold. Firstly it looks for co-investments with development companies at a project level, building residential, commercial and industrial properties. Secondly it makes equity investments in large/mid cap property companies.
Thirdly, it makes enterprise level transactions or sale and leaseback deals with companies that have liabilities connected to real estate. Fourthly, it does acquisition and work-out of non-performing loan potfolios that have underlying property collateral.
The CEO of the realty fund is S Sriniwasan, the former co-head of investment banking at Kotak Mahindra. The fundÆs CIO is Hari Krishna, who most recently was responsible for corporate finance and investments at Jones Lang La Salle in India and before that worked at CB Richard Ellis.
Kotak is one of IndiaÆs largest private wealth management companies, with about 35% of India's top 100 families' wealth under management ûresulting in AUM in excess of $ 1.6 billion.
Record low borrowing costs in Australia are feeding demand for the country's real estate, with domestic and global investors raising their allocations into the sector.
Experts have a diversified view on the appeal of private assets across the region, but one thing's for certain - inflows are rising, particularly into China and the US.
Malaysia's Armed Forces Fund hires new CEO; Canada's Omers appoints Asia capital markets managing director; HSBC Asset Management creates alternatives unit, appoints CIO as its head; Bank of Singapore names global wealth head; Aware Super hires IFA head; Hong Kong names acting head for MPFA; Schroders adding to Asia ESG headcount; and more.
Asian fixed income assets – including Hong Kong dollar (HKD) bonds – are luring growing numbers of global investors who are striving for reliable and consistent returns amid macro uncertainty compounded by rising inflation and rates, according to HSBC Asset Management.