Motilal Oswal Alternates (MO Alternates), the alternative investments arm of Motilal Oswal Group, has closed its sixth real estate fund, Indian Realty Excellence Fund VI (IREF-VI), with commitments totalling ₹2,000 crore. This is one of the largest and fastest domestic capital raises in India’s real estate credit segment. The fund attracted strong interest from Indian HNIs and family offices, underscoring robust domestic confidence in real estate credit as a high-potential asset class.
MO Alternates has partnered with leading developers and has committed over INR 2,500 crore across more than 35 real estate projects since 2024. The platform’s cumulative assets under management in real estate now exceed INR 10,000 crore across six real estate funds and co-investments. MO Alternates is committed to upholding the highest standards of discipline, transparency, and performance, delivering consistent outcomes and honouring the confidence of investors.
(Motilal Oswal Alternates) The alternative investments arm of the Motilal Oswal Group, has successfully closed its India Realty Excellence Fund V (IREF V) at ₹2,000 crore, marking a significant milestone in India’s private real estate financing space. This fund is set to fuel the growth of residential real estate, particularly in the mid-income and affordable segments.
In a significant development within India’s alternative investment landscape, Motilal Oswal Alternates—the alternative investments arm of Motilal Oswal Group—has successfully closed its ₹2,000 crore real estate fund. This is the firm’s sixth real estate-focused investment vehicle, aimed at fuelling mid-income and affordable housing projects across key urban markets in India.
Focus of the Fund and Investment Strategy
The fund, raised under the India Realty Excellence Fund V (IREF V), will primarily deploy capital through structured debt and mezzanine funding in projects with strong execution capabilities and healthy demand visibility. It is designed to provide growth capital to well-established developers across Mumbai, Pune, Bengaluru, Chennai, NCR, and select Tier-II cities. By focusing on last-mile funding and construction finance, the fund seeks to mitigate risks while offering attractive returns to investors. With a tenure of 5–6 years, IREF V will emphasize secured lending structures backed by cash flow visibility and hard collateral.
Investor Participation and Demand
The ₹2,000 crore corpus was raised from a mix of family offices, high-net-worth individuals (HNIs), corporates, and institutional investors. The strong demand for real estate-backed investment opportunities reflects growing confidence in India’s residential real estate recovery and the tightening of funding channels post-RERA and NBFC crisis.
Supporting India’s Housing Demand
India’s urban housing demand is on the rise, especially in the mid-income and affordable segments, driven by rising urbanization, nuclear families, and stable interest rates. The IREF V fund will help bridge the capital gap faced by credible developers, thereby contributing to timely project completions and supporting end-user confidence.
Motilal Oswal Alternates’ Track Record
With over ₹7,500 crore in assets under management (AUM) in real estate, Motilal Oswal Alternates has (Real Estate). Established itself as one of India’s leading alternate real estate fund managers. Their consistent focus on credit-quality, due diligence, and active asset monitoring has delivered strong risk-adjusted returns across past fund vintages. Their portfolio includes structured deals with leading developers in top-tier cities, and the successful closure of IREF V further cements their position in India’s real estate financing ecosystem.
q1. What is the size of the real estate fund closed by Motilal Oswal Alternates?
The fund has a total corpus of ₹2,000 crore.
q2. What is the name of the fund?
The fund is called India Realty Excellence Fund V (IREF V).
q3. What will the fund focus on?
It will invest primarily in mid-income and affordable housing projects through structured debt.
q4. Who are the main investors in this fund?
Investors include HNIs, family offices, corporates, and institutions.
q5. Which cities will the fund target for investment?
Key markets include Mumbai, Pune, Bengaluru, Chennai, NCR, and select Tier-II cities.
