Realty PE Arm Of Motilal Oswal Raises Rs 1,150 Cr For 4th Fund

New Delhi: The real estate private equity business of Motilal Oswal Financial Services (MORE) has raised as much as Rs 1,150 crore for its 4th real estate fund.

The amount has been raised mostly from high net worth individuals (HNIs) and family offices. Thus, the cumulative assets under management of MORE have reached Rs 3,600 crore, the company said in a statement.

The money raised will be invested in mid-income and affordable housing projects. Some commercial projects will also receive investment from this fund. Only top six cities will be chosen for investment. MORE has already committed Rs 550 crore in nine projects in cities like Pune, Ahmedabad, Chennai, and Hyderabad from this fourth fund. 

“In our private equity business, we manage an AUM of more than Rs 7,000 crore of which 50 peercent is growth capital and 50% is real estate,” said Vishal Tulsyan, MD & CEO of Motilal Oswal Private Equity.

“Existing investors from our previous funds have provided commitments to this fund notwithstanding the NBFC crisis during which we have raised this IREF IV fund,” said Sharad Mittal, Director & CEO, MORE.

During the current lockdown, efficient management of the portfolio of the fund is top priority for the company. The company’s has been holding frequent discussions with developer partners with a focus on managing cash flows in the lockdown period and chalking out a strategy to be executed once the lockdown is lifted.