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.
The remaining capital will be raised over the next couple of months, the fund said on Thursday.
