Motilal Oswal Alternates Closes ₹2,000 Cr Sixth Real Estate Fund, Marking Major Milestone
Motilal Oswal Alternates, the alternative investments arm of Motilal Oswal Group, has successfully closed its sixth real estate fund, raising ₹2,000 crore. This marks a 65% growth compared to its predecessor and ranks among the largest and fastest domestic capital raises in India’s real estate credit space.
Real EstateFund RaisingMotilal OswalAlternative InvestmentsIrefviReal Estate MumbaiJul 23, 2025
This latest fundraise marks a remarkable 65% growth compared to its predecessor and ranks among the largest and fastest domestic capital raises in India’s real estate credit space.
A significant portion of the capital for this fund has been raised from family offices and Indian HNIs, reflecting strong domestic conviction in real estate credit as a resilient and rewarding asset class. The Fund has also received commitments from offshore investors through the GIFT City route, highlighting growing global confidence in Indian real estate.
With 75% of the Fund already committed across 15 diverse real estate projects spanning Mumbai, Pune, Chennai, Bangalore, Hyderabad, and Kolkata, MO Alternates has partnered with leading developers including Ajmera Realty, Runwal Enterprises, Ambuja Neotia Group, Casagrand Group, Radiance Realty, Mantra Properties, Assetz Group, Akshar Group, Bhagwati Group, and ASBL Group. The fund’s portfolio is primarily focused on mid-income residential developments designed to meet the rising demand from urban homebuyers.
Demonstrating strong performance, MO Alternates has already recorded its first exit from this IREF VI, delivering an impressive internal rate of return (IRR) of 20.25%.
Since the start of 2024, MO Alternates, through its funds and co-investments, has committed over INR 2,500 crore across more than 35 real estate projects and achieved full exits from over 30 investments, with total divestments exceeding INR 2,200 crore.
The platform’s cumulative assets under management (AUM) in real estate now exceed INR 10,000 crore across six real estate funds and co-investments. The platform has made over 180 investments and secured more than 110 complete exits. Overall, the alternative investments platform manages more than USD 2 billion in cumulative AUM across real estate and private equity.
Mr. Saurabh Rathi, Managing Director & Co-Head (Real Estate) at MO Alternates, said, “Credit demand for land acquisition in India is accelerating rapidly, driven by a renewed appetite for residential development, rising land values, and limited availability of structured capital. With continued tightening of regulatory norms for traditional lenders, alternative credit platforms are increasingly stepping in to bridge the funding gap with tailored solutions that meet the unique needs of developers. Our ability to underwrite across markets and diversify developer partnerships has been a key strength, and we believe the current environment presents significant headroom for calibrated growth.”
Mr. Anand Lakhotia, Managing Director & Co-Head (Real Estate) at MO Alternates, said, “We are deeply grateful to our investors for the continued trust they have placed in our platform. Their unwavering support is both humbling and motivating. As custodians of this capital, we remain fully committed to upholding the highest standards of discipline, transparency, and performance—delivering consistent outcomes and honouring the confidence our investors have shown in us.”
Mr. Vishal Tulsyan, Co-founder and Executive Chairman, MO Alternates, said, “This successful close is a strong endorsement of the trust placed in our platform by both domestic and international investors. Over the past decade, MO Alternates has built a differentiated position in alternative asset management by combining deep domain expertise with a strong governance framework. We remain committed to expanding our footprint and continuing to deliver consistent outcomes across market cycles.”
About MO Alternates
MO Alternates is the alternative investments platform of the Motilal Oswal Group, managing more than USD 2 billion in cumulative AUM across real estate and private equity. Within real estate, the platform’s cumulative assets under management currently exceed INR 10,000 crore across six real estate funds and co-investments. With a strong focus on downside protection, proactive risk management, and delivering superior risk-adjusted returns, MO Alternates has established itself as a leading provider of structured capital solutions in India’s real estate credit space.
Frequently Asked Questions
What is the total amount raised by Indian Realty Excellence Fund VI (IREF-VI)?
Indian Realty Excellence Fund VI (IREF-VI) has raised commitments aggregating to INR 2,000 crore.
How much growth did IREF-VI achieve compared to its predecessor?
IREF-VI achieved a remarkable 65% growth compared to its predecessor.
What types of investors contributed to the IREF-VI fund?
A significant portion of the capital for IREF-VI has been raised from family offices and Indian HNIs, with commitments also received from offshore investors through the GIFT City route.
What is the focus of the IREF-VI fund's portfolio?
The fund’s portfolio is primarily focused on mid-income residential developments designed to meet the rising demand from urban homebuyers.
What is the cumulative assets under management (AUM) of MO Alternates in real estate?
The cumulative assets under management (AUM) of MO Alternates in real estate now exceed INR 10,000 crore across six real estate funds and co-investments.
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