India: Motilal Oswal Real Estate hits first close of new fund at $86.6m
Motilal Oswal Real Estate (MORE), the realty-focused private equity arm of Motilal Oswal Financial Services Ltd, has achieved the first close of India Realty Excellence Fund V (IREF V), its fifth real estate fund. The fund, launched with a target corpus of ₹800 crore, has received commitments of around ₹650 crore.
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This transaction provides a partial exit to True North Fund V, one of the key investors in Fincare.
MORE expects to achieve the first close of the fund by March 2021.
