Motilal Oswal Real Estate (MORE), the real estate equity arm of Motilal Oswal Financial Services on Wednesday announced the first close of its recently launched fifth real estate fund “India Realty Excellence Fund V (IREF V).” The Fund, which was launched with a target corpus of Rs 800 crore has received commitments aggregating Rs 650 crore, it said. The IREF V will focus on providing senior secured debt in post-approval projects. The Fund plans to deploy the capital in mid-income/ affordable residential projects across the top seven cities in India while selectively investing in commercial projects. The India Realty Excellence Fund V would undertake 12-15 transactions in its entire fund life.
Motilal Oswal real estate PE arm achieves first close of fifth fund
May 20, 2021
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The fund, launched with a target corpus of ₹800 crore, has received commitments totalling ₹650 crore
Motilal Oswal Real Estate (MORE), the real estate private equity arm of Motilal Oswal Financial Services Ltd, has achieved the first close of its fifth real estate fund, India Realty Excellence Fund V (IREF V).
The fund, launched with a target corpus of ₹800 crore, has received commitments totalling ₹650 crore, it said in a statement.
Earlier in January, MORE said it was looking to raise up to ₹800 crore through its fifth real estate fund.
Motilal Oswal Real Estate: Motilal Oswal Real Estate raises Rs 650 crore for fifth property fund indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
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Source: Jeramy Johnson / Android Central
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