Trilegal Advise Kotak Investment Advisors To Set Up Its Stressed Assets Platform

Kotak Investment Advisors Limited has set up “Kotak Special Situations Fund”. This will target both pre-stress and distressed opportunities and financially support businesses to prevent them from entering insolvency.

The Fund held its first closing in February 2019 in which UAE-based sovereign wealth fund Abu Dhabi Investment Authority (ADIA) committed to contribute USD 500 million in the Fund. The Fund reached its final close in August 2019 with total commitments of USD 1 billion.

The Kotak Special Situations Fund serves as their stressed assets platform. This would serve as a pooling vehicle dedicated to making investments in stressed/distressed assets to contribute towards resolution of insolvency predicaments to address increasing number of NPAs (non-performing assets) and consequently aid in increasing the investor base and confidence.

Kotak Investment Advisors has raised a total of $3.3 billion across asset classes such as private equity, real estate, infrastructure, special situations credit and listed equities.

The Trilegal team was led by Partners: Ganesh Rao and Aditya Jha; Counsel: Yash Bansal; Senior Associate: Rayan Azmi; and Associates: Sharanya Sukumar and Nupur Agrawal.

ADIA was represented by Platinum Partners.