Is it a Pipe (private investment in public equity)? The fund, called the Kotak India Focus Fund, will invest in listed mid-market Indian companies. The 20 or so stocks will be selected by portfolio manager Prakash Ramaseshan, who recently joined the group from a Middle Eastern family office. “There are numerous private equity funds in India chasing similar deals, and valuations appear rich,” says Ravilochan Pola, CEO at Kotak Mahindra Inc, the New York-based subsidiary of Kotak Mahindra.
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