fbpx
News Hub

$1 billion data centre fund planned by India’s Kotak Bank

Written by Tue 29 Nov 2022

A subsidiary of Kotak Mahindra Bank is reportedly planning to raise up to $1 billion for a data centre investment fund.

Official details from Kotak Investment Advisors (KIAL), the investment arm of Kotak Bank, have not yet been release.

Kotak Alternate Assets, a division of KIAL, recently appointed Subhamkar Das as Chief Operating Officer for the Kotak Data Centre Funds platform.

“Onboarding of Subhamkar will set the tone for Kotak Data Centre Funds platform, as he will be adding strength and depth to the future plans and objective of building scale to our platform,” said Srini Sriniwasan, KIAL’s Managing Director.

Das is the former VP and Head of Data Centre & Build at Nxtra Data, the data centre arm of Airtel.

KIAL expects a ‘data explosion’ in India, with the country’s data centre capacity growing from 650 MW to 2.2 GW over the next five years to meet demand. This will require an investment of $7 billion, according to KIAL.

Since 2005, KIAL has either raised, managed, or advised more than $6.8 billion in asset classes, including real estate, infrastructure, and private equity.

“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,” added Sriniwasan.

By 2025, India is expected to see $6 billion in data centre investments, with key players like Adani, Amazon, Colt DC, Hiranandani, and Yotta already making significant entries into the country.

Join Data Centre World

8-9 March 2023, ExCeL London

Experience the world’s largest gathering of data centre professionals and end-users.

Don’t miss your chance to carve out successful strategies and find solutions that future-proof your next generation of data centres.

Written by Tue 29 Nov 2022

Send us a correction Send us a news tip