Kotak Realty Fund exits investments worth $356 mn from its managed account

Kotak Realty Fund, part of Kotak Investment Advisors, has exited $356 million worth of investments from its managed account of Abu Dhabi Investment Authority (ADIA) and another sovereign fund from West Asia.

In a managed account, an individual investor gives money to a fund manager to invest and manage his fund. In comparison, in a private equity fund, the manager takes care of funds of many investors.

The capital was invested across different properties in Chennai, Mumbai, the National Capital Region, and Bengaluru. The latest fund has generated a gross internal rate of return (IRR) of 19 per cent across