Kotak Real Estate Fund XII
Target IRR
16.8%
Fund Type
Real Estate Fund
Fund Target Size
₹4,000 Cr
Fund Tenure
6 Years
Min. Commitment
₹1 Crore
Fund Structure
Close-Ended AIF Trust (SEBI + RERA compliant)
About the Fund
Kotak Real Estate Fund XII deploys development equity and construction finance in RERA-registered residential projects and Grade-A commercial developments across Mumbai Metropolitan Region, Bengaluru, and National Capital Region. Structural protections — project-level RERA escrow accounts, senior security over land and receivables, and RERA registration mandates — provide layered downside protection for investor capital.
Fund XII benefits from Kotak Group's 30-year relationships with India's premier developers, enabling proprietary access to premium transactions unavailable in the open market. The fund targets 8–12 investments with typical deal sizes of ₹300–500 Crore each. Exit mechanisms include project completion sales, pre-leased asset monetisation, and InvIT/REIT IPO pathways for commercial assets.
Fund Manager Details
Vikas Chimakurthy
Co-Head – Real Estate Investments, Kotak AMC
19+ years in real estate PE and development finance; IIM Calcutta; formerly Piramal Capital and Standard Chartered
Vikas Chimakurthy co-heads Kotak's real estate AIF platform with 19 years of experience in development finance, structured real estate lending, and PE investments across residential, commercial, and logistics sectors. He oversees the investment committee and maintains Kotak's developer relationships across the three target geographies.
Fund Details
SEBI AIF Registration
INP000000258
Fund Category
Category II AIF – Real Estate Fund
Target Geographies
Mumbai MMR, Bengaluru, NCR
Typical Deal Size
₹300 Cr – ₹500 Cr per project
Security Structure
First-charge on land + receivables; RERA project escrow
Management Fee
1.75% p.a. on committed capital
Hurdle Rate
10% p.a.
Carried Interest
20% above hurdle
Fund Administrator
KFIN Technologies
Trustee
Kotak Mahindra Trusteeship Services
Tax Treatment
Pass-through under Sec 115UB; LTCG 12.5% on equity; interest at slab rate
Interested in this fund?
Speak with our institutional advisory team for eligibility, documentation, and onboarding.