The investment arm of India’s Kotak Mahindra Bank is launching a new data center fund.
Kotak Alternate Assets, managed by Kotak Investment Advisors Limited (KIAL) this week announced that it has appointed Subhamkar Das as Chief Operating Officer (COO) to lead its new Kotak Data Centre platform.
Das will be a senior member of KIAL’s Alternate Asset Management team and will help build the data center practice at KIAL. Das joins Kotak from Airtel’s Nxtra data center unit, where he was VP and Head of Data Centre & Build.
Srini Sriniwasan, Managing Director, Kotak Investment Advisors Limited said: “At Kotak, we have always led the way in identifying new investment opportunities and invested in empowered teams to execute plans to meet our investors’ target expectations. Onboarding of Subhamkar will set the tone for Kotak Data Centre funds’ platform, as he will be adding strength & depth to the future plans and objective of building scale to our platform.”
While it didn’t share the figure, a local press report Kotak is planning to raise between $500-$1 billion for the fund.
Kotak has previously invested in local data center operator Sify through its Kotak Special Situations Fund (KSSF), which like the new fund is managed by managed by KIAL.