Performing credit fund research profile
Kotak Mahindra AMC’s private-credit strategy is distinct from Kotak Alternate Asset Managers’ special-situations platform. Public launch reporting describes a domestic performing-credit fund for unlisted mid-market businesses, with acquisition and capex financing and a sponsor commitment.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
Kotak Mahindra AMC (private credit) uses a performing credit approach across Performing credit, acquisition finance, mid-market corporates.
Current evidence
Kotak Credit Opportunities Fund reported a first close above ₹1,200 crore in May 2025. Steel Exchange India disclosed a ₹199.17 crore fund disbursement and acquisition of secured listed NCDs in October 2025, while Indel Money disclosed ₹100 crore of Kotak fund debt in February 2026.
Strategy
Performing credit
Sector focus
Performing credit, acquisition finance, mid-market corporates
AIF structure context
Indian private credit, venture-debt and special-situations funds are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
Kotak Credit Opportunities Fund reported a first close above ₹1,200 crore in May 2025. Steel Exchange India disclosed a ₹199.17 crore fund disbursement and acquisition of secured listed NCDs in October 2025, while Indel Money disclosed ₹100 crore of Kotak fund debt in February 2026.
Investor questions
Kotak Mahindra AMC private credit is covered in Rupeia's private credit research universe. The current public record describes the strategy as Performing credit, with a sector focus of Performing credit, acquisition finance, mid-market corporates. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to Kotak Mahindra AMC private credit in the reviewed public sources: Steel Exchange India Limited; Indel Money Limited. It does not represent a complete current portfolio unless the manager has published one.
The fund was publicly reported at roughly ₹1,500–2,000 crore with about 20% sponsor commitment and a 13–16% target range at launch. These are launch terms, not realized performance; no public fund IRR or DPI was identified. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: Reported maiden fund size of approximately ₹1,500–2,000 crore; sponsor commitment reported at about 20%.. Public terms or access information: Performing credit for unlisted mid-market companies, including acquisition and capex financing; reported target range 13–16% at launch, subject to source and vehicle verification.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Deepak Agrawal (CIO FI), Saurabh Tripathi (CIO PC). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review borrower concentration, security and seniority, cash versus accrued income, defaults, recoveries, fund leverage and liquidity. The current open diligence point is: The complete borrower schedule, vehicle-level fees, carry and realised returns are not publicly disclosed. The two named borrowers below are individually attributable through company or exchange disclosures; the official Kotak AMC manager mark is used because no separate vehicle mark is published..
2026-02-05: Kotak Credit Opportunities Fund reported a first close above ₹1,200 crore in May 2025. Steel Exchange India disclosed a ₹199.17 crore fund disbursement and acquisition of secured listed NCDs in October 2025, while Indel Money disclosed ₹100 crore of Kotak fund debt in February 2026.
Next step
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