Kotak Investment Advisors announced the first & final closure of their third Private Equity fund - Kotak India Growth Fund II with a total commitment of USD 440mn.  The Fund has been raised within a period of less than three months from the client base of Kotak Mahindra, both institutional investors and high net worth individuals. KIAL, which focuses exclusively on managing the Alternate Assets business of the Kotak Mahindra Group, now has Assets Under Management USD 1.4bn split almost evenly between two asset classes namely - Private Equity and Realty Funds. As part of KIAL, Kotak Private Equity Group (KPEG)  led by Nitin Deshmukh, CEO Private Equity will now manage three funds across two strategies - Growth Capital (India Growth Fund I & India Growth Fund II) and Venture Capital for Life Sciences (Kotak India Venture Fund I).

KPEG invests in companies across a broad range of industries seeking capital for business expansions, acquisition financing and buyout transactions typically investing between USD 15mn and 40mn depending on the nature of the company's business, stage of growth and its financing requirements. Kotak India Growth Fund I, has invested in companies such as Home Solutions - a subsidiary of Pantaloon Retail Ltd; INX Media- the media entertainment company ,  DRS Logistics, BFW - manufacturer of CNC machines in India; SIRO Clinpharm- local full service Clinical Research Services company, Metahelix - an Ag-Biotech company, ICOMM Tele- telecom tower manufacturing company and BVG India- Facilities Management Service provider among others.

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