This unit of Indiaâ??s Kotak Mahindra Bank hopes to attract pension funds and other institutional investors, mostly from Europe, with an internal rate of return target of around 25%. Chief Investment Officer Hari Krishna, who [...] Kotakâ??s first fund joined private equity group Warburg Pincus by taking a $10-million stake Lemontree Hotels, a new firm that is building business hotels across India. And the valuation issue has hit performances by recent debutantes such as Mumbai-listed Akruti Nirman Ltd. And Dev realestate Development, listed on Londonâ??s Alternative Investment Market in January.
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