Kotak Realty raised $98.2 million from domestic LPs for a fund will focus on residential housing.

Through the fund, Kotak Realty will provide high-yield debt instruments to real estate developers.

In March, Kotak was said to be raising an up to $500 million fund, and would use a mixture of domestic and foreign LPs to capitalize it.

Kotak Realty Fund is said to manage $700 million across five funds.