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Grade-A Office Real Estate for Institutional Investors
Managed by Kotak Alternate Asset Managers
Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
India Office Assets Fund I (IN/AIF2/18-19/0646) is a SEBI-registered Category II AIF managed by Kotak Investment Advisors Limited (KIAL), now renamed Kotak Alternate Asset Managers Limited (KAAML). This is the first of Kotak's dedicated commercial office real estate AIFs. KAAML subsequently launched India Office Assets Fund II in partnership with Abu Dhabi Investment Authority (ADIA) — a USD 590 million fund (KIAL's 12th real estate fund) domiciled at GIFT City, raising ~USD 1 billion in real estate in the year of launch. KAAML was set up in 2005 as the Kotak Mahindra Group's alternate assets practice and has raised/managed/advised ~USD 9.3 billion across real estate, infrastructure, special situations, private equity, private credit, data centre, and investment advisory — across 28 team members and 15 funds. Office assets funds are led by Vikas Chimakurthy (CEO, Kotak Realty Fund) and Chetan Shah (Executive Director). Address: 27 BKC, 7th Floor, Plot No. C-27, G Block, BKC, Bandra East, Mumbai – 400051.
S. Sriniwasan (Srini)
Managing Director
S. Sriniwasan (Srini) heads Kotak Alternate Asset Managers Limited (KAAML) and is part of the Group Management Council that drives Kotak Mahindra Group's growth charter. He has played a crucial role in setting up and building different asset classes in KAAML including Real Estate, Infrastructure, Special Situations & Credit, Private Equity, and Investment Advisory. Overall, KAAML has raised/advised ~USD 9.3 billion under his tenure. As one of the earliest fund managers to raise and invest capital in India, Srini has introduced significant financing, financial structuring, and negotiating skills in the alternate assets industry. Srini joined Kotak in 1993 and was previously co-head of Kotak Investment Banking (a joint venture with Goldman Sachs from 1995 to 2005), advising leading domestic and international companies on capital raising, M&A, and strategic divestitures. He is a member of the CII subcommittee on Capital Markets, Board member of APREA & Co-Chairman of the India Chapter, member of the Governing Council of GRI India Chapter, and a Member of the Private Credit Council at EMPEA. He holds a B.Com from Delhi University and an MBA from IMT Ghaziabad.
Vikas Chimakurthy
Senior Leadership (Private Equity)
Vikas Chimakurthy joined the Kotak Mahindra Group in 1999 and moved to Kotak Realty Fund in 2007. As CEO of Kotak Realty Fund, he oversees fundraising, investments, and divestments across all realty segments. Prior to Kotak Realty Fund, he was in the M&A team of Kotak Investment Banking, where he was head of the real estate and energy sector verticals and led several M&A transactions across energy, telecom, technology, media, and chemicals. He was also appointed as part-time advisor to the IL&FS Board after the Government of India took control. He holds a BTech from IIT Delhi and an MBA from FMS Delhi University.
Chetan Shah
Executive Director, Kotak Realty Fund
Chetan Shah joined Kotak Realty Fund in 2018 as Executive Director, overseeing investments across all realty segments with special focus on residential mid-income and affordable housing. He has more than two decades of experience in real estate fund management, debt, and private equity. Prior to Kotak, he was a core team member at ASK Property Investment Advisors, where he managed multiple real estate funds (including an offshore fund) covering fundraising, deployment, monitoring, and exits, directly underwriting and monitoring over 20 investments. He has also worked at ICICI Bank (Corporate and Realty Finance), Hypo Real Estate International, and IL&FS. He is a Commerce Graduate from Mumbai University and a Chartered Accountant.
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Rajeev Saptarshi
Chief Operating Officer & Whole-time Director
Rajeev Saptarshi joined Kotak Alternate Asset Managers Limited as COO in November 2013 and is a Whole-time Director on the Board. He is responsible for Finance, Compliance, Operations, and Investor Relations across all five verticals of the alternate assets practice (Private Equity, Real Estate, Infrastructure, Special Situations, and Listed Strategies). Rajeev has been with the Kotak Mahindra Group for over 30 years, holding several senior management roles across different businesses. He previously served as COO of the Institutional Equities business at Kotak Securities, where he led Technology initiatives and headed Operations and Finance functions. He also served as CFO of Kotak Mahindra Capital Company (the Investment Banking arm). He was recognised with the Indian Alternative Investment Thought Leaders 2024 award at the Equalifi event. Rajeev is a Chartered Accountant (CA) and a Company Secretary (CS).
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