The fundraise drew participation from domestic family offices, ultra high-net-worth individuals and major Indian insurance companies.
Kotak Alternate Asset Managers Limited announced Thursday the first close of its Kotak Yield & Growth Fund at ₹3,900 crore ($430 million), marking the largest-ever domestic private creditrais funde in India. The Category II Alternative Investment Fund has a target corpus of ₹5,000 crore.
The fundraise drew participation from domestic family offices, ultra high-net-worth individuals and major Indian insurance companies. This represents Kotak Alts’ first fund raised entirely from the domestic market through Kotak Private Banking relationships, departing from its historical reliance on global institutional investors.
The sector-agnostic fund targets cash-flow-positive assets in mid to large-sized enterprises with strong governance practices. Its strategy combines stable yield generation with selective growth opportunities, emphasizing rigorous underwriting and capital preservation.
Srini Sriniwasan, Managing Director at Kotak Alts, said the fund brings institutional-grade rigor developed over two decades to domestic investors. CEO Amit Jain attributed the strong response to investor confidence in the firm’s risk management framework and execution capabilities.
Kotak Alts, established in 2005 as part of the Kotak Mahindra Group, has managed and advised over $22 billion across private equity, real estate, infrastructure, and private credit. The fund aims to capitalize on India’s expanding private credit market while maintaining focus on businesses with clear exit pathways.
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Published on February 12, 2026