Mumbai: The Kotak Mahindra Group on Tuesday announced the first closure of its infrastructure private equity fund with a commitment of around Rs 490 crore.
According to the group, in addition to the Kotak Mahindra Group, commitments had been received from Sumitomo Mitsui Banking Corporation of Japan, an affiliate of Brookfield Asset Management, Japan Bank for International Co-operation and a leading insurance group.
"We are delighted to announce the first closure of our India-dedicated infrastructure fund. This is an important milestone for us as we are now in a position to address a significant market opportunity as well as add a key platform to our existing alternate assets business," Kotak Mahindra Bank Joint Managing Director C Jayaram said.
The infrastructure fund will invest in companies engaged in power generation or transmission, transportation (roads, ports and airports), water treatment & supply, waste management, gas transmission & distribution among others in the country, the company said.