Kotak Plans $2 Billion Private Credit Fund as India Demand Rises

India’s Kotak Alternate Asset Managers Ltd. is aiming to raise as much as $2 billion for its third private credit fund, according to a top executive, highlighting strong investor appetite for the asset class even as global concerns grow.

The firm is targeting a final close by September, and is betting on opportunities across sectors such as data centers, pharmaceuticals, diagnostics, steel and cement, Managing Director Srini Sriniwasan said in an interview.