Motilal Oswal Alternates makes first close of Rs.3,000-Cr private credit fund at Rs 1,700-Cr

Motilal Oswal Alternates , the alternative investment arm of Motilal Oswal Financial Services, has announced the first close of its maiden private credit fund, at INR 1,700 crore. The fund - India Credit Excellence Fund-I - launched in January, is targeting a total corpus of INR 3,000 crore, including a green shoe option.The fund will focus on secured lending and bespoke customised solutions targeting mid-market businesses that are profitable, growing and fundamentally creditworthy, yet unable to access capital at the right tenor and structure from banks or capital markets.