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Kotak combines alternate funds, advisory into $18 billion asset management business

August 03, 2023 at 02:23 am EDT

MUMBAI (Reuters) - Billionaire banker Uday Kotak's eponymous group will combine its alternate fund management and investment advisory businesses into an entity with $18 billion under management, it said on Thursday.

The entity, to be named Kotak Alternate Asset Managers (KAAM), will include $8.9 billion in alternate investment funds and the advisory business with $9.1 billion under management.

(Reporting by Ira Dugal and Bhakti Tambe; Editing by Sohini Goswami)

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	KOTAK MAHINDRA BANK LIMITED	1,642 INR	-0.39%	+1.14%	39.26B
	TOPIX INDEX	2,713 PTS	+0.26%	-0.58%	-

Uday Suresh Kotak

Founder of Kotak Mahindra Bank Ltd., Uday Suresh Kotak is a businessperson who has been at the helm of 6 different companies and presently occupies the position of Chairman of Infrastructure Leasing & Financial Services Ltd. and Chief Executive Officer, Joint MD & Director at Kotak Mahindra Bank Ltd., Chairman for Kotak Mahindra Prime Ltd., Chairman for Kotak Mahindra Investments Ltd. and Chairman at Kotak Forex Brokerage Ltd. (which are all subsidiaries of Kotak Mahindra Bank Ltd.). Mr. Kotak is also on the board of Indian School of Business, Indian Council for Research on Intl Economic Relations, Anglo-Scottish Education Society and National Institute of Securities Markets and President at Confederation of Indian Industry and Governing Member at Mahindra United World College of India. Uday Suresh Kotak received an MBA and an undergraduate degree from Jamnalal Bajaj Institute of Management Studies.

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Linked companies
KOTAK MAHINDRA BANK LIMITED	Founder
Kotak Mahindra Prime Ltd. Kotak Mahindra Prime Ltd. Finance/Rental/LeasingFinance Kotak Mahindra Prime Ltd. provides automobile financing services. Its products include new car finance, used car and re-finance, top up against car loan, car lease, and dealer finance. The company was founded on February 28, 1996 and is headquartered in Mumbai, India.	Chairman