Motilal Oswal Real Estate raises Rs 5.75 bn for fourth realty fund

Fund's first investment likely in September; proceeds will be used finance projects taken over by large, organised realty players from smaller developers

Motilal Oswal Real Estate (MORE) has made the first close of India Realty Excellence Fund IV (IREF IV), its fourth real estate fund, raising commitments aggregating to Rs 5.75 billion. 

MORE is part of Motilal Oswal Private Equity (MOPE), which is the alternative investments platform of Motilal Oswal Group. MOPE's total assets under management exceed Rs 50 billion.

IREF IV’s strategy would be an extension of those of MORE’s earlier two funds (IREF II and IREF III).  

Sharad Mittal, Director & CEO, MORE, said that the fund has raised Rs 5.75 billion for the fund within three months of launch. "In this fund,