A wholly-owned subsidiary of the Abu Dhabi Investment Authority (Adia) partnered with Kotak Investment Advisors to set up a $500 million fund that targets non-performing loans (NPLs) in India.
The Kotak Special Situations Fund, is being anchored by a commitment from a wholly-owned subsidiary of Adia and will target both pre-stress and distressed opportunities, with a key focus on providing financial support to pre-stress businesses to prevent them from entering insolvency, according to a statement carried by WAM.
"With a broad mandate to invest across asset types and sectors, our new partnership with Kotak will contribute to this process and help to ease the burden of NPLs on the Indian financial system," said Hamad Shahwan Aldhaheri, executive director of the Private Equities Department at Adia.
Adia holds direct or through its subsidiaries investments across various asset classes including equities, fixed income, real estate and private equity, among others.
The Kotak Special Situations Fund is structured as an alternative investment fund under Securities and Exchange Board of India, SEBI, regulations. It will be managed by Alternate Asset Management AMC - Kotak Investment Advisors. It will be led by Eshwar Karra, former chief executive of Phoenix ARC.
"The Kotak Special Situations Fund has been created to address the NPL issue and market dislocation by providing much-needed capital and momentum to finding resolutions in both pre-stress and distressed situations," said Srini Sriniwasan, Managing Director and chief executive of Kotak Investment Advisors.
RESULT
Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')
Contracted list
Ashton Agar, Alex Carey, Pat Cummins, Aaron Finch, Peter Handscomb, Josh Hazlewood, Travis Head, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Shaun Marsh, Mitchell Marsh, Tim Paine, Matt Renshaw, Jhye Richardson, Kane Richardson, Billy Stanlake, Mitchell Starc, Marcus Stoinis, Andrew Tye.
About Housecall
Date started: July 2020
Founders: Omar and Humaid Alzaabi
Based: Abu Dhabi
Sector: HealthTech
# of staff: 10
Funding to date: Self-funded
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
The winners
Fiction
- ‘Amreekiya’ by Lena Mahmoud
- ‘As Good As True’ by Cheryl Reid
The Evelyn Shakir Non-Fiction Award
- ‘Syrian and Lebanese Patricios in Sao Paulo’ by Oswaldo Truzzi; translated by Ramon J Stern
- ‘The Sound of Listening’ by Philip Metres
The George Ellenbogen Poetry Award
- ‘Footnotes in the Order of Disappearance’ by Fady Joudah
Children/Young Adult
- ‘I’ve Loved You Since Forever’ by Hoda Kotb
