Motilal Oswal Alternates (MO Alts), the alternative investment arm of Motilal Oswal Financial Services, announced the first close of its maiden Private Credit Fund, the ‘India Credit Excellence Fund – I’, at INR 1,700 Crore. This milestone occurs as MO Alts celebrates its 20th anniversary. The Fund, launched in January 2026, targets a final corpus of INR 3,000 Crore and is headed by veteran Rakshat Kapoor.
MO Alts Marks Milestone with Maiden Private Credit Fund
Motilal Oswal Alternates (MO Alts), the alternative investment arm of Motilal Oswal Financial Services Limited, has successfully achieved the first close of its debut private credit fund, the ‘India Credit Excellence Fund – I’. The initial closing amount reached INR 1,700 Crore, which includes a INR 200 crore commitment from the Sponsor and its affiliates.
The Fund, which was launched in January 2026, has a target total corpus of INR 3,000 Crore, including a potential green shoe option of INR 1,500 Crore. The final close is expected in the near term, supported by a strong pipeline of investment opportunities.
20 Years of Alternatives Evolution
This achievement is particularly significant as it coincides with MO Alts’ 20-year journey as India’s premier alternatives platform, marking its evolution into a multi-asset alternatives firm. Over two decades, MO Alts has built a strong track record, having previously raised over INR 23,000 Crore across 11 Funds in Private Equity and Real Estate, and currently manages approximately ~INR 28,000 Crore in assets.
The platform recently also announced the final close of its fifth and largest private equity fund at INR 8,500 crore, reinforcing its strong momentum.
Focus on Private Credit Strategy
The new Private Credit Fund is led by Mr. Rakshat Kapoor, Head & CIO, Private Credit, bringing over 25 years of structured financing experience. The Fund is designed to capitalize on India’s fast-growing private credit opportunity, estimated to reach over INR 10 lac crore.
The strategy focuses on secured lending and bespoke customised solutions targeting profitable, growing, and creditworthy mid-market businesses that cannot access capital through traditional banking or capital markets. A key differentiator is the Fund’s ability to capture equity-linked upsides alongside regular credit yields, utilizing MO Alts’ deep equity investing framework and real estate underwriting expertise. The platform is positioned to partner with corporates seeking flexible, non-dilutive capital.
Source: BSE
