Former chairman of State Bank of India (SBI), Rajnish Kumar, has joined Kotak Investment Advisors Limited (KIAL) as an exclusive adviser for its special situations fund, according to a release.
Set up in early 2005, KIAL is a wholly owned subsidiary of Kotak Mahindra Bank Limited (Group) that focuses on the Alternate Assets business of the Group.
The special situations fund, launched in February 2019, is anchored by a $500 million commitment from a wholly owned subsidiary of Abu Dhabi Investment Authority.
Announcing the final close in 2019, Srini Sriniwasan, managing director and chief executive of KIAL, said that the fund had a flexible investment mandate.
KIAL has raised about $4.6 billion across different asset classes including private equity funds, real estate funds, infrastructure funds, special situations fund, listed strategies and investment advisory.
Arundhati Bhattacharya and Aditya Puri are among other top bankers that took up advisory roles. Arundhati Bhattacharya started advising homegrown private equity firm ChrysCapital in 2018. However, in March 2020, she joined US cloud-based service provider Salesforce.com Inc as CEO of India unit. Aditya Puri joined Carlyle Group as senior advisor in Asia days after his retirement from HDFC Bank as CEO.
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