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Kotak Mahindra is raising a fresh real estate fund of $350 million from overseas investors. The fund will be registered in Mauritius, reports Business Standard. "We have already started the process. We have a target to reach over $1 billion (all Kotak funds put together) by this year-end," S Srniwasan, chief executive officer, Kotak Realty Fund, has been quoted as saying by BS.

Kotak has just raised $400 million for its second real estate fund, which will make $20-25 million investment per deal in distressed assets, joint venture projects, pre-IPO investments and property development. It can make investments in both FDI and non-FDI-compliant opportunities.

Kotak Private Equity also has an "India Growth Fund" of $160 million, besides its first real estate fund of $100 million.