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Motilal Oswal Real Estate (MORE), a part of Motilal Oswal Private Equity (MOPE), has announced the second close to its fourth real estate fund with it receiving commitments totaling Rs 850 crore.
The fund - India Realty Excellence Fund IV (IREF IV) – has already committed Rs 250 crore across four investments in Chennai, Pune and Hyderabad.
The money has majorly been raised from high net worth individuals (HNIs) and family offices.
Currently, MORE’s cumulative assets under management (AUM) stands at more than Rs 3,000 crore, the company said in a statement.
The Fund plans to deploy the capital in mid-income and affordable residential projects across the top six cities in India, while selectively also investing in commercial projects.
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