Kotak Investment Advisors looks to raise $1 billion: Report

Kotak Investment Advisors, backed by Uday Kotak, is looking to raise about $1 billion for a new fund for investing in India's residential real estate, according to reports. Abu Dhabi Investment Authority and Allianz SE could reportedly invest $500 million and $220 million in the fund, respectively. Kotak Investment is also in advanced talks with other investors for fundraising.