Kotak Alternate Asset Managers (Kotak Alts) has extended a secured structured credit facility of Rs 360 crore (around $38 million) to Vishwa Samudra Group through its growth and yield fund.
The diversified infrastructure platform will use the proceeds to meet funding requirements for its road hybrid annuity model (HAM) road projects and provide bridge capital for their timely execution. Vishwa Samudra Group has interests across infrastructure segments including ports, harbours, bridges, and urban ropeways.
The investment will serve as last-mile financing for two near-completion road projects being developed under the National Highways Authority of India’s (NHAI’s) HAM framework. The deal aligns with Kotak Alts’ focus on cash flow-backed real asset opportunities with clear execution visibility, the company said in a statement.
“The investment is aligned with our focus on NHAI-backed annuity assets sponsored by groups with demonstrated infrastructure execution capabilities. We continue to see demand for flexible credit solutions from high-quality businesses across infrastructure and allied sectors,” Amit Jain, chief executive officer of Kotak Yield & Growth Fund, said.
Centrum Capital acted as the exclusive financial advisor to Vishwa Samudra Group on the transaction.
Kotak Alts, the alternative asset management and investment advisory arm of Kotak Mahindra Group, has raised, managed and advised over $22 billion across asset classes.
In February, Kotak Alts announced the first close of the Kotak Yield & Growth Fund at Rs 3,900 crore ($430 million then). The Category-II alternative investment fund (AIF) is targeting a final close of Rs 5,000 crore. The fund, which was launched in September last year, combines private credit yields with equity-linked returns.
