Kotak Mahindra (U.K.) Ltd., a subsidiary of India-based Kotak Mahindra Bank Ltd., has launched Kotak India Infrastructure Fund, a closed-end listed investment vehicle that trades on the London Stock Exchange.

The fund is targeting £100 million ($157 million) from institutional private investors and will focus on long-term capital appreciation by primarily investing in 40 to 60 listed and soon-to-be listed equity and equity-linked securities of companies registered in India or that generate a significant amount of revenue from India.

Nitin Jain, the fund’s principal fund manager, says the fund will, “[use] a mix of top-down and bottom-up stock selection strategy and will focus on investing in a diversified portfolio to capitalize on India’s growing private sector involvement in the infrastructure sector,” according to a statement from the firm.

Kotak Mahindra Gro