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Motilal Oswal to raise Rs.2,000-Cr via sixth realty fund IREF VI

Economic Times  

Motilal Oswal Alternates (MO Alternates), the alternative investments arm of Motilal Oswal Group, is planning to raise over INR 2,000 crore through its sixth real estate fund, India Realty Excellence Fund VI (IREF VI). The fund plans to deploy the capital in mid-income and affordable housing projects across Mumbai, Delhi-NCR, Pune, Bengaluru, Chennai, Hyderabad and Ahmedabad, while selectively investing in commercial projects as well. IREF VI, to be set up as an Alternative Investment Fund (AIF) Category II, will focus on structured mezzanine and equity investments with developers with execution track records. It will undertake over 25 transactions of about INR 75 crore each. MO Alternates would start the fund-raising process in the next few months. Currently, MO Alternates manages five real estate funds and multiple standalone NCD investments. Its cumulative assets under management (AUM) for real estate stand at over INR 5,500 crore. In real estate, MO Alternates has made more than 100 investments across over 135 projects and secured 50 complete exits.