Kotak Investment Advisors Limited (KIAL), the alternative assets arm of Kotak Mahindra Group backed by one of Asia’s richest bankers Uday Kotak, on Tuesday said its Strategic Situations Fund II has raised $1.25 billion in its first close.
With a target of $1.6 billion, the sector-agnostic fund comes a month after the $1-billion Kotak Special Situations Fund completely deployed its corpus. It last invested Rs. 1,070 crore in Biocon.
