Kotak Realty Fund, one of India's largest private equity real estate funds, completed the acquisition of an 8% stake in Embassy REIT, a REIT company, from Blackstone, an American alternative investment management company, for $200m. With this, Kotak Investment Advisors had achieved closure of its 12th real estate fund and has raised, managed or advised more than $2.8bn under its real estate fund series.