Motilal Oswal Real Estate (MORE) said it has raised Rs 575 crore for its fourth realty fund and the amount will be invested mainly in housing projects across six major cities.
MORE is part of Motilal Oswal Private Equity, which is the alternative investments platform of Motilal Oswal Group. The total assets under management (AUM) under Motilal Oswal Private Equity is more than Rs 5,000 crore.
MORE announced the first close of India Realty Excellence Fund IV (IREF IV), its fourth real estate fund.
“The fund has raised commitments aggregating to Rs 575 crore,” the company said in a statement.
The amount has been raised from high net worth individuals (HNIs) and family offices. The fund is set up as an alternative investment fund (AIF Category II).