Motilal Oswal Alternates raises `1,250-cr via IREF VI

Hyderabad: Motilal Oswal Alternates (MO Alts), the alternative investments arm of Motilal Oswal Financial Services Ltd 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 Rs2,000 crore (including a green shoe of Rs500 crore) has received commitments aggregating Rs1,250 crore in the first close. 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).

Vishal Tulsyan, MD and CEO, MO Alts, said: “This marks the largest and the fastest first close for our real estate funds to date. This successful fund raise amidst a bullish equity market underscores 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 a leading capital provider for real estate sector by capitalizing on a myriad of opportunities in the years to come.”