Private credit might be less attractive than it was last year as investors rush into the market, but there are sweet spots to be found.
The Singapore branch is structured as a subsidiary of Kotak MahindraÆs UK office. Via Singapore, Kotak Mahindra intends to market a number of India-specific investment solutions including traditional equity funds, concentrated funds and private equity.
KotakÆs Singapore office will be headed by Ruchit Puri who has been with the Indian firm since 2000 and specifically focused on international operations since 2002. His experience is centred around private clients and KotakÆs own proprietary book.
ôWe have seen an increase in appetite for India from this region confirming the regional investorÆs need to participate in the India story. Kotak is poised to provide those products and services that fulfil the investment need for India,ö says Puri.
The Kotak Group has a presence across business in the financial services space including commercial banking, stock broking, asset management, life insurance and investment banking. It has a presence across 300 cities and towns in India as well as New York, London, Dubai, Singapore and Mauritius.
Other wholly Indian investment banks have already set up shop in Singapore, initially drawn by the number of Indians now resident and in senior positions there. ICICI BankÆs investment bank subsidiary, ICICI Securities, opened shop in Singapore in mid-2005. Indian investment banks are trying to turn their single-country focus into an advantage, telling clients it is an advantage to deal with them as they have the deepest insight into the market and no conflicts of interest.
Regulators keep their eyes open on tightening insurance industry by introducing more detailed risk management requirements, which could bring pressure on smaller players.
China and India are more obvious choices for AustralianSuper to consider in Asia Pacific, but the super fund currently lacks the expertise and prefers to stick to the US and Europe.
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Investors are increasingly turning to private companies and private debt in their hunt for ESG alpha, but the age-old problem of transparency and due diligence remains