Motilal Oswal PE raises $155 mn for IBEF-II fund

IBEF-II will invest in 12-15 mid-market companies, primarily unlisted, engaged in financial services, healthcare and niche manufacturing and infra services

Motilal Oswal Private Equity Advisors today said it has raised $155 million (over Rs 1,000 crore) for its second India Business Excellence Fund.

India Business Excellence Fund-II (IBEF-II), managed and advised by Motilal Oswal Private Equity Advisors (MOPE) has announced final closing at $155 million, a company release said.

A significant portion of the capital has been raised from institutional investors including international institutional investors ($105 million) while domestic investors invested $50 million, it added.

IBEF-II would invest in 12-15 mid-market companies, primarily unlisted, engaged in financial services, healthcare and niche manufacturing and infra services.

"We reiterate our strong commitment to find highly appealing investment opportunities across India and deliver superior returns to our investors. Strong commitment by investors in such market conditions has reinforced belief in our abilities and has further invigorated the team to give its best," Motilal Oswal Private Equity Advisors CEO Vishal Tulsyan said.

MOPE's first growth capital fund India Business Excellence Fund-I (IBEF-I), has already returned 40% capital back to its investors and continues to have good traction on exiting its portfolio companies.

MOPE was promoted by Motilal Oswal Financial Services Limited to build an alternative asset management business. In addition to the growth capital funds, it also manages a Rs 2 billion real estate fund.