0.1 overview

Overview

Kotak Special Situations Fund makes strategic investments in companies with a sector agnostic approach. The fund makes investments with the objective of obtaining primarily long-term capital appreciation and returns in the nature of interest, dividend, capital gains or share of profits through a combination of appropriate instruments on its investments.

We invest across sectors to tap into the stressed assets opportunity in India. We have expertise in a wide range of sectors including real estate, healthcare, infrastructure, power, consumer, industrials, information technology and financial services etc. All these sectors will benefit from rising income levels, increased consumption and favorable demographics in India. Such fundamental drivers coupled with attractive entry valuations in the distressed investments are expected to offer attractive returns to investors.

Investment Strategy

The Fund’s investment objective is to generate target returns by primarily investing in distressed/stressed or special situation opportunities in India. Investments typically involve a combination of debt, equity and mezzanine instruments. Our investment strategies focus on the following:

Stressed Assets: With positive and stable business outlook and competent management. However, such businesses could be under financial stress for various external / transient reasons. In such cases, we partner with existing promoters by offering required financial support.

IBC Opportunities: With positive and stable business outlook and where a change or augmentation of management is necessary to improve performance for regulatory reasons. In such cases, we partner with strategic or operating partner to acquire and restructure the business.

Special Situations: In certain special situation opportunities which may arise due to lack of liquidity or otherwise regulatory restrictions for banks and non-banking financial companies. These will include situations like investor take-out financing, group restructuring and promoter financing.

Asset Acquisitions: In limited ongoing business operations but with valuable assets which can be sold to generate returns. In such cases we look at pure asset plays, where we invest in entities with assets such as real estate, hotels or other commercial assets. Returns are generated predominantly by sale of underlying assets to one or multiple parties over a period of time.

Kotak Special Situations Fund differentiates itself in the following ways:

The Fund is focused on opportunities in distressed assets under Insolvency and Bankruptcy Code (IBC), pre-IBC opportunities, assets under liquidation and also special situations like investor take-out financing, group restructuring and promoter financing.

The Fund has a broad mandate to invest across asset types and sectors with a flexible approach to investing and structuring.

The Group and team has a deep understanding of various sectors and experience of working with Indian promoters over last 30+ years.

Our Team

0.3 our team

Eshwar Karra

CEO – Special Situations Fund

Eshwar joined the Kotak Mahindra Group in 2000 and brings with him over two decades of financial services experience.

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Rahul Chhaparwal

Executive Director

Rahul joined Kotak Special Situation Fund in February 2019 after spending more than 7 years with Kotak Group in its Debt Investment Banking division (Kotak DCM).

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Rahul Shah

Associate Director

Rahul Shah has joined Kotak Special Situations Fund in January 2019 after spending more than 7 years with Kotak Private Equity Group.

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Pratik Parekh

Associate Vice - President

Pratik Parekh joined Kotak’s Special Situations Fund in January 2019 and brings with him almost 10 years of experience...

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Prudhvi Raj

Associate Vice – President

Prudhvi Raj has joined the Kotak Special Situations Fund from Kotak’s Private Equity team. He joined Kotak Private Equity Group in October 2017....

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Agrata Gupta

Associate

Agrata joined Kotak Special Situations Fund in December 2018.

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Aakash Jain

Associate

Aakash joined Kotak Special Situations Fund in March 2019 and brings with him more than 2 years of investment banking...

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Rohan Kilachand

Associate

Rohan joined Kotak Special Situations Fund in April 2019 and brings with him 9 years of experience...

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