Kotak Mahindra Asset Management Company (Kotak AMC) has successfully closed the first tranche of its 'Kotak Credit Opportunities Fund', raising Rs. 1,200 crore with the goal of mobilizing an additional Rs. 800 crore within the next quarter. The alternative investment fund (AIF) is strategically designed to capitalize on gaps in India’s existing credit ecosystem, aiming to deliver gross internal rates of return between 14–16%. Backed by ultra-high-net-worth individuals (UHNIs), family offices, and institutions, Kotak AMC is also committing Rs. 300 crore of its own capital.