Motilal Oswal Real Estate To Raise Rs 800 Cr For 5th Realty Fund
Private equity firm Motilal Oswal Real Estate (MORE) will raise up to Rs 800 crore for its fifth fund to provide construction finance to realty projects across seven major cities. It has invested capital in the real estate sector through four real estate funds and PMS/NCD investments. The cumulative asset under management under MORE stands at more than Rs 3,700 crore. The new fund would focus on structured debt investments with established developers and undertake 12-15 transactions of Rs 50-80 crore each.
The fund has been set up as an alternate investment fund (AIF Category II) registered with stock market regulator SEBI. MORE expects to achieve the first close by March 2021 and conclude fundraising in the next 6-9 months.
With the launch of this fund, MORE said it would provide a full financial solution to their developer partners. The early-stage financing through their earlier funds and post-approval stage/construction financing through this new fund.