Motilal Oswal Alternates, the investment division of Motilal Oswal Group, announced on August 17th its intention to secure a maximum of Rs 2,000 crore via the newly introduced sixth Real Estate Fund Titled "IREF VI: India Realty Excellence Fund VI"
IREF VI's strategic emphasis lies in early-stage investments within mid-income or affordable residential projects across India's major 8 cities, encompassing Mumbai, Delhi-NCR, Pune, Bangalore, Chennai, Hyderabad, Kolkata, and Ahmedabad.
Moreover, the fund will also selectively explore investments in commercial projects. Continuing its track record of prosperous real estate funds, Motilal Oswal Alternates is fortifying its position in the real estate domain, with a dedicated focus on early-stage investments.
Motilal Oswal Alternates has a history of involvement in the real estate sector, having channeled investments through five real estate funds. Alongside these, the company also oversees distinct independent and proprietary assets.
With extensive experience as a seasoned real estate manager, the firm has executed over 140 transactions and provided funding of Rs 7,500 crore to 50 developers in India. Impressively, it has exited over 70 transactions, achieving an internal rate of return (IRR) surpassing 20 percent in these instances.
Structured as an alternate investment fund (AIF Category II) and duly registered with SEBI, the stock market regulatory authority, the fund anticipates commencing its initial phase by December 2023 and concluding the fundraising process within the subsequent 6-9 months. Notably, the collective assets under management (AUM) managed by Motilal Oswal Alternates exceed $2 billion.
Expressing high levels of positivity, Vishal Tulsyan, Managing Director and CEO of Motilal Oswal Alternates, conveyed the company's strong anticipation of substantial expansion in the real estate market during this opportune phase.
Saurabh Rathi, Co-head of Real Estate Funds, highlighted the effectiveness of their meticulous bottom-up investment strategy, stringent evaluation methods, and hands-on asset management techniques. He emphasized that these practices have strategically positioned them to capitalize on the favorable conditions in the real estate sector, driving growth in the upcoming phase.
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