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Private Equity | 4 September 2013

Motilal Oswal Announces Final Closing Of IBF-II

by Tilak Devadiga
Motilal Oswal Announces Final Closing Of IBF-II
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The PE arm of the finance company, Motilal Oswal Private Equity Advisors Private Limited has announced the final closing of its second growth capital fund – India business Excellence Fund – II, at $155 Mn. The funds raised constitute a combination of international and domestic investors to the tune of $105Mn and $50 Mn respectively.

IBEF-II plans to invest in 12-15 mid market companies, primarily unlisted, with preferred themes of domestic consumption, financial services, healthcare and niche manufacturing and infra services.

India Business Excellence Fund-I (IBEF-I) was closed in 2007 with a $125 million corpus. IBEF-I was a sector agnostic fund with a focus on providing growth capital to mid-sized Indian companies. It has made investments in 13 companies across sectors such as food processing, bulk packaging, power transformers, power infra enablers, EPC, engineering goods, ITES, financial services, EMS, auto components, etc. and returned 40% capital back to its investors.

In addition to the growth capital funds it also manages a R2 Bn real estate fund (IREF-I) focused on investing in real estate projects in metros and tier-1 cities in India in the range of R20-30 Cr. IREF has already made seven investments across asset classes and on the back of its success, MOPE is in the process of launching IREF – II, an R500 Cr domestic real estate fund.

Recently Motilal Oswal PE managed - India Business Excellence Fund II and India Business Excellence Fund IIA were investing R35 Cr in Magicrete Building Solutions Private Limited, a manufacturer of Autoclave Aerated Concrete (AAC) blocks from Surat, India; also Intec Capital has entered into definitive agreements with Motilal Oswal’s - India Business Excellence Fund-II and India Business Excellence Fund-IIA.

Last year Motilal Oswal PE was also planning to launch India focused Impact Investment Fund with a corpus of R250 – 300 Cr for investment in socially relevant business.

Earlier this year;

  • Jones Lang LaSalle's Segregated Funds Group had achieved the first close of its maiden real estate fund in India.
  • India Infoline had raised capital commitments of R6.28 Bn and announced closure of its IIFL Income Opportunities Fund.
  • TriVeda Capital was planning to launch a real estate fund this year.

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