India’s Kotak Bank To Launch a New $1 Billion Data Center Fund

India’s Kotak Mahindra Bank’s investment arm Kotak Alternate Assets, has launched a new data center fund. The company announced the appointment of Subhamkar Das as the Chief Operating Officer of its new Kotak Data Centre platform. Kotak Alternate Assets is managed by Kotak Investment Advisors Limited (KIAL), and Das will also resume as a senior member of the firm. Das was previously the VP and Head of Data Centre & Build at Airtel’s Nxtra data center arm.

The Managing Director of KIAL, Srini Sriniwasan, said: “At Kotak, we have always led the way in identifying new investment opportunities and invested in empowered teams to execute plans to meet our investors’ target expectations. Onboarding of Subhamkar will set the tone for Kotak Data Centre funds’ platform, as he will be adding strength & depth to the future plans and objective of building scale to our platform.”

The company did not report any figure for the fund it would raise. However, according to a local press that might be familiar with the development, the company is planning to raise between $500m and $1 billion.