RE credit fund research profile
Motilal Oswal Real Estate’s IREF platform provides structured real-estate capital to developers and projects, alongside the group’s broader real-estate investment business. The public record is strongest on fund launches, corpus and development-finance positioning; fund-level realised outcomes are less consistently disclosed.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
Motilal Oswal Real Estate (IREF series) uses a re credit approach across Residential developers.
Current evidence
Motilal Oswal Real Estate’s current IREF VI developer page lists live positions in Today Group, Urbanrise Group, Assetz Group, Akshar Group, Ajmera Group and Ambuja Group, plus an exited Runwal Enterprise position. IREF VI’s ₹2,000 crore final close was announced in July 2025.
Strategy
RE credit
Sector focus
Residential developers
AIF structure context
Indian private credit, venture-debt and special-situations funds are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
Motilal Oswal Real Estate’s current IREF VI developer page lists live positions in Today Group, Urbanrise Group, Assetz Group, Akshar Group, Ajmera Group and Ambuja Group, plus an exited Runwal Enterprise position. IREF VI’s ₹2,000 crore final close was announced in July 2025.
Investor questions
Motilal Oswal Real Estate (IREF series) is covered in Rupeia's private credit research universe. The current public record describes the strategy as RE credit, with a sector focus of Residential developers. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to Motilal Oswal Real Estate (IREF series) in the reviewed public sources: Today Group, Urbanrise Group, Assetz Group, Akshar Group, Runwal Enterprise, Ajmera Group, Ambuja Group. It does not represent a complete current portfolio unless the manager has published one.
The manager reported a first IREF VI exit with a 20.25% IRR and public materials report predecessor-fund exits and returns separately. Current IREF VI page data shows Runwal Enterprise as exited and the other named developer positions as live. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: IREF VI final close: ₹2,000 crore in July 2025; the manager also reported over ₹10,000 crore of cumulative real-estate AUM across six funds and co-investments.. Public terms or access information: Real-estate credit and structured capital for residential and selected commercial developments in major Indian cities. Public reporting describes approximately 15 IREF VI projects and typical commitments of roughly ₹100–150 crore per project; detailed covenants, fees and carry are not publicly disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Saurabh Rathi (MD and Co-Head, Real Estate Funds); Anand Lakhotia (MD and Co-Head, Real Estate Funds). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review borrower concentration, security and seniority, cash versus accrued income, defaults, recoveries, fund leverage and liquidity. The current open diligence point is: Series-wise realised IRRs beyond the publicly reported IREF VI and predecessor-fund figures are not fully disclosed; the record is limited to the IREF real-estate-credit strategy and does not substitute Motilal Oswal’s separate private-equity or maiden private-credit vehicles..
2026-04-01: Motilal Oswal Real Estate’s current IREF VI developer page lists live positions in Today Group, Urbanrise Group, Assetz Group, Akshar Group, Ajmera Group and Ambuja Group, plus an exited Runwal Enterprise position. IREF VI’s ₹2,000 crore final close was announced in July 2025.
Next step
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