Motilal Oswal Alternates (MO Alts), the alternative investments arm of Motilal Oswal Financial Services, has raised over Rs 1,750 crore for its sixth real estate fund India Realty Excellence Fund VI (IREF VI) to focus on investments across top eight cities of India.
MO Alts has committed around Rs 1,300 crore to developers through its platform in the financial year of which Rs 1,000 crore has been committed across projects in Mumbai, Chennai, Hyderabad, and Kolkata from this latest fund.
The fund has made these investments across mid-income housing projects of developers including Ajmera Realty and Runwal Enterprises in Mumbai, Ambuja Neotia Group in Kolkata, Casagrand Group and Radiance Realty in Chennai, Mantra Properties in Pune, BSafal Group in Ahmedabad, Bhagwati & Gami Group in Navi Mumbai and Candeur Group in Hyderabad.
MO Alts had launched this sixth real estate fund with a target corpus of Rs 2,000 crore and has raised this capital from high networth individuals, family offices and corporates including its earlier investors.
The platform currently manages six real estate funds and multiple standalone non-convertible debenture (NCD) investments. Its cumulative assets under management (AUM) for real estate currently stands at more than Rs 9,500 crore.
In real estate, the MO Alts platform has so far made 168 investments and secured 100 complete exits. Overall, the alternative investments platform manages more than $2 billion in AUM across asset classes.
