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MO Alts marks first close of new real estate fund

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Mumbai-based MO Alts, the alternatives investment arm of Motilal Oswal Group, has achieved the first close for its India Realty Excellence Fund VI, a real estate-focused credit fund. The fund has raised over INR 1,250 crore ($181 million), more than half of its target corpus of INR 1,500 crore. MO Alts has also established a vehicle in Gujarat's GIFT City to facilitate international investments. The fund aims to invest in pre-approved residential projects across India's top eight residential markets, offering mezzanine debt to large developers constructing middle-income housing projects. The final close is expected in the next six months.

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