Motilal Oswal launches $155m mezz fund targeting 25% returns

Motilal Oswal Real Estate (MORE) has launched its third mezzanine fund targeting INR1000 Crs ($155m) and returns of up to 25%. The India Realty Excellence Fund (IREF) III will deploy development loans in the India’s major cities and expects to make its first close in two to three months and provide its first two facilities before the end of the year.