Motilal Oswal Alternates achieves first close of Rs 1,250 crore for its sixth real estate fun

Motilal Oswal Alternates (“MO Alts”), the alternative investments arm of Motilal Oswal Financial Services Limited has announced the first close of India Realty Excellence Fund VI (IREF VI), its sixth real estate fund. The Fund, launched with a target corpus of INR 2,000 Cr (including a green shoe of INR 500 Cr) has received commitments aggregating ~INR 1,250 Cr in the first close.

MO Alts, till date, has invested capital in the real estate sectorthrough five real estate funds. The Firm also manages otherstandalone and proprietary investments in the real estate space. MOAlts is a seasoned real estate manager and has till date undertakenmore than 150 investments and funded ~INR 7,500 Cr across 50developers in India. They have also successfully exited more than85 investments and generated an IRR of more than 20% from their pre-approval bets.

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IREF VI will strategically focus on early-stage investments pre-dominantly in mid-income/affordable residential projects across India’s top 8 cities, including Mumbai, Delhi-NCR, Pune, Bangalore, Chennai, Hyderabad, Kolkata and Ahmedabad.

This Fund has been raised from high net worth individuals, non-resident Indians and family offices/corporates. The Fund is set up as an alternative investment fund (AIF Category II).

MO Alts is the alternative investments platform of Motilal OswalFinancial Services Limited. The cumulative AUM under MO Alts ismore than USD 2 billion across growth stage private equity and realestate verticals.

Mr. Vishal Tulsyan, MD & CEO, MO Alts, said “This marks thelargest and the fastest first close for our real estate funds to date.This successful fund raise amidst a bullish equity marketunderscores the unwavering confidence our investors have placed in our capabilities. We are very optimistic about the real estate market as we foresee a period of robust growth ahead. Moving forward, we are committed to strengthening our position as aleading capital provider for real estate sector by capitalizing on amyriad of opportunities in the years to come.”