Motilal Oswal Alternates has closed its fourth real estate fund, following the exit of all 37 investments in the portfolio. Meanwhile, Vivriti Asset Management has exited its Vintage II funds, comprising three credit schemes, as the funds reach the end of their investment period.
Motilal Oswal Alternates exits fourth real estate fund
Motilal Oswal Alternates (MO Alternates), the alternative investments arm of Motilal Oswal Group, has closed its fourth real estate fund, following the exit of all 37 investments in the portfolio, per an announcement.
The fund said it has delivered a portfolio IRR of 20.4%.
IREF IV, a Rs 1,155 crore ($199 .3 million) domestic real estate fund, was focused on providing structured capital to established developers at the pre-approval stage across seven cities.
“Indian real estate today is more formalised, consolidated and transparent than at any point in its history, and credible developers are scaling across cities on the back of sustained housing demand. That growth will need patient, structured capital,” Vishal Tulsyan, co-founder and Executive Chairman at MO Alternates, said.
Over its lifecycle, it partnered with developers including Casagrand, Puravankara, Kolte Patil Developers, Urbanrise, Phoenix, Rajapushpa, Ashwin Sheth and Radiance Realty, among others.
Vivriti Asset Management exits Vintage II funds
Vivriti Asset Management (VAM), an Indian private credit asset manager, has exited its Vintage II funds, comprising three credit schemes, as the funds reach the end of their investment period.
With this, the firm has returned more than Rs 3,400 crore to investors through capital giveback and income distributions, across two vintages of funds, it said in a media statement.
VAM’s Vintage II funds, launched in early 2022, were closed in September 2023. Investors in the fund included institutions (insurance companies, AIFIs) and private investors (family offices, HNIs).
“Private credit is increasingly addressing a financing requirement that sits between conventional bank lending and equity capital,” said Vineet Sukumar, founder and MD, Vivriti Asset Management.
“There are several fundamentally sound, cash-generating businesses that require more flexible capital than traditional lending structures may be able to provide,” he added.
VAM has so far invested over Rs 12,500 crore in over 125 portfolio companies since its inception in 2019.
