Kotak Investment Advisors raises $500 mn for $1 bn real estate fund

Kotak Investment Advisors Ltd (KIAL) announced it has received a $500 million investment for its $1 billion real estate fund from a unit of the UAE-based Abu Dhabi Investment Authority (ADIA). KIAL, the asset management division of the Kotak Mahindra Group, said it has so far raised, managed or advised over $3.3 billion under its real estate fund series.