India: Kotak Special Situation fund invests $34m in Sanjaya Mariwala’s SPV

Photo: Mint

Kotak Special Situations Fund (KSSF) – managed by Kotak InvestmentAdvisors Limited (KIAL), today announced that it has invested ₹250 crore in Sanjaya Mariwala’ Kotak Special Situation Fund invests ₹250 crore in Sanjaya Mariwala’s SPVs Special Purpose Vehicle (SPV), to help the latter buy-out two B2C supplement businesses – “Setu” and “Edence” from Omniactive Health Technologies Limited (OmniActive) as well as provide dry-powder for further investment in the nutraceuticals businesses.

India is expected to be one of the global leaders in the nutraceuticals industry and the acquisition of Setu and Edence, will help fuel the growth of Setu and Edence by creating a focussed growth trajectory in the B2C space.

Srini Sriniwasan , Managing Director, Kotak Investment Advisors Limited, said, “We are delighted to announce Kotak Special Situation Fund’s investment in Sanjaya Mariwala’s vision of making Setu and Edence world-class nutraceuticals companies. We believe that he is well poised to capture the increasing trend towards health-conscious lifestyle and focus on natural health supplements.”

Eshwar Karra, CEO – Kotak Special Situations Fund at Kotak Investment Advisors Limited, said, “Kotak Special Situations Fund’s ₹250 crore investment in Sanjaya Mariwala’s SPV is in line with the fund’sobjective of participating in growth-oriented businesses and partnering with industry leaders by providing bespoke capital solutions.”

Kotak Investment Advisors Limited (KIAL), a wholly-owned subsidiary of Kotak Mahindra Bank Limited, focuses on the Alternate Assets business of the Group. KIAL was set up in early 2005 to bring a sharper focus to the Group’s alternate assets and has raised in aggregate ~USD 4.6 billion across different asset classes including Private Equity Funds, Real Estate Funds, Infrastructure Funds, Special Situations Fund, Listed Strategies and Investment Advisory, all led by independent investment teams.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.