Sharad Mittal Joins Motilal Oswal PE As Real Estate Head
by Pranav Puri
PE arm of Motilal Oswal Financial Services - Motilal Oswal Private Equity Advisors has appointed Sharad Mittal as Head - Real Estate business.
Mittal is a CA and has an experience of 12 years in real estate Investments and fund raising.
Before joining Motilal Oswal, Mittal was with ICICI Prudential AMC, as VP – Investments with Real Estate Practice. At ICICI Prudential, he was one of the key members in the fund responsible for leading the commercial rental office fund, managing transactions from mezzanine fund and also leading the fund raising exercise. In the FY 2013 he spearheaded two fund raising initiatives successfully raising R1300 Cr.
He has also worked with ASK Property Investment Advisors and ICICI Bank Ltd.
In April, Somak Ghosh who was heading the Real Estate and Impact Investing PE Funds of Motilal Oswal PE, left the company to set up Contrarian Capital India. The debut fund, dubbed Contrarian Opportunities Fund I, is targeting a corpus of $50 Mn and will seek to make early stage impact investments.
MOPE has so far raised funds for India Business Excellence Fund (IBEF) and India Realty Excellence Fund (IREF) to invest in mid-market companies and real estate projects, respectively. IREF, launched in 2008 is an R200 Cr domestic real estate fund focused on investing in real estate projects in metros and tier-1 cities in India.
On the back of the success of IREF - I, MOPE is also in the process to put together IREF – II, an INR 500 crore domestic real estate fund.
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