Kotak funds | Business Upturn

Kotak Mutual Fund’s Pankaj Tibrewal resigns as Fund Manager to pursue entrepreneurial venture

Mahita Jain — Thu, 23 Nov 2023 10:43:06 +0000

Pankaj Tibrewal, previously the executive vice-president and fund manager at Kotak Mutual Fund, has decided to step down from his position to embark on a new venture, as per insider information. Joining a growing trend of fund managers leaving their roles to establish their ventures in the Portfolio Management Services (PMS) and Alternative Investment Fund (AIF) space, Tibrewal brings over 18 years of experience in fund management to his entrepreneurial endeavour.

Tibrewal initiated his career as a credit analyst and later worked with PNB Asset Management before joining Kotak Mutual Fund in 2010. During his tenure at Kotak, he successfully managed 10 funds, overseeing assets totalling around Rs 50,000 crore. Notable funds under his management included Kotak Small Cap Fund, Kotak Emerging Equity Fund, and Kotak Equity Hybrid Fund. The Kotak Small Cap Fund, since its inception, has delivered returns of 20.07 percent, Kotak Emerging Equity Fund has yielded 20.05 percent, and Kotak Equity Hybrid Fund has produced returns of 13 percent.

A commerce graduate from St. Xavier’s College in Kolkata, Tibrewal furthered his education with a master’s in finance from Manchester University.

Kotak Mutual Fund has recently made significant changes to four funds previously managed by Tibrewal, such as Kotak Equity Hybrid Fund, Kotak Small Cap Fund, and Kotak Business Cycle Fund. The fund house has appointed Harsha Upadhyay and Harish Bihani as co-fund managers for these funds. Harsha Upadhyaya, serving as president and chief investment officer for equity, and Harish Bihani, a senior fund manager, will collectively contribute to the management of these funds.

As Pankaj Tibrewal embarks on a new chapter with his entrepreneurial venture, Kotak Mutual Fund adapts to these changes by introducing experienced co-fund managers to continue the effective management of the affected funds.

Kotak Alternate Assets will launch Rs 1000 crore credit fund

News Desk — Thu, 19 May 2022 10:34:56 +0000

Kotak Alternate Assets, a category II alternative investment fund managed by Kotak Investment Advisors. Moreover, will launch a 1,000 crore private credit fund (AIF).

Niraj Karia, a former KKR executive, will lead Kotak Private Credit Fund. Which is a green-shoe option for raising another 1,000 crore will be available to the fund.

The fund will have a wide investing universe and will be sector-agnostic, according to a corporate release.

It will concentrate on the performing credit space. Offering finance to mid-market growth-oriented companies with proven business models. In order to generate mid-to-high-teen returns.

Srini Sriniwasan, Managing Director, Kotak Investment Advisors, said. “The effort to raise a Private Credit Fund comes at an opportune time. Coinciding with the evolving private credit ecosystem and will help increase our footprint in the credit investment space. By making secured investments in mid-sized businesses while generating superior returns.”

Categories of Alternate Investment Fund

There are three categories of AIFs – I, II and III. Firstly, category II AIFs are those that do not fall under categories I and III and do not undertake leverage other than to meet their day-to-day operational requirements as per SEBI regulations. Real estate funds and private equity funds fall under this category.

According to SEBI data, category II AIFs had raised funds totaling ₹2.23 trillion. As well as had made investments worth ₹1.99 trillion as of 31 March 2022. Hence, this accounted for 70-71% of the funds raised and investments made by all AIFs – category I, II and III – put together.

Pine Labs back in the investors with a raise of US$600m

Nishita Sharma — Tue, 06 Jul 2021 06:42:30 +0000

Pine Labs industry is a payment platform that engages merchants in India and some parts of Southeast Asia, has now closed a US$600 million fundraising round with one of the world’s largest investors which includes Fidelity Management & Research and BlackRock as it targets an IPO within 18 months.

CEO of Pine Labs Mr. Amrish Rau said that the Singapore-based startup, offers solutions for in-store and online payments as well as prepaid, loyalty, and “pay later” programs, and it is valued at US$3 billion. Investors are participating in the round of fundraising which has included the fund advised by Neuberger Berman Group and India’s IIFL Finance and Kotak Funds.

Banks and merchants have to pay a monthly fee for using Pine Labs’ application for a service, as it is a startup that also receives micro-fees on every transaction. Payment services are now gaining high popularity in Asia because smartphones have become highly widespread which is benefiting providers such as Pine Labs.

In a video conference, Mr. Rau said that “It’s a product from India that’s succeeded in Malaysia and Singapore and is entering Indonesia and Thailand.” He also added that “We’ve got a good, Ebitda-positive story as we plan our IPO in the next 18 months.

The initial public offering will likely take place in the US, Mr. Rau said. “With our size and scale, we want to make it a global IPO.”