Motilal Oswal Alternates Closes INR 1,700 Crore Private Credit Fund

Motilal Oswal Alternates, the alternative investment arm of Motilal Oswal Financial Services Ltd, has announced the first close of its maiden private credit fund, the India Credit Excellence Fund, at INR 1,700 crore. This fund was launched in January 2026 and includes an INR 200 crore commitment from the sponsor and its affiliates. The fund aims for a total corpus of INR 3,000 crore, with a green shoe option of INR 1,500 crore. The final close is expected in the near term, with a strong pipeline of investment opportunities already identified.

The India Credit Excellence Fund is part of Motilal Oswal Alternates’ strategy to expand its multi-asset alternatives platform. Over the past two decades, the company has raised over INR 23,000 crore across 11 funds and currently manages approximately INR 28,000 crore in assets. The private credit fund is designed to focus on secured lending and bespoke solutions targeting mid-market businesses that are profitable and growing but unable to access capital from traditional sources. The fund leverages Motilal Oswal Alternates’ deep equity investing framework and real estate underwriting expertise to capture equity-linked upsides alongside regular credit yields.

The fund is managed by Mr. Rakshat Kapoor, who has over 25 years of experience in the structured financing industry. The investment committee draws on Motilal Oswal Alternates’ cross-asset expertise, bringing together senior professionals from the private equity and real estate platforms. This approach forms a key pillar of the fund’s differentiated strategy in credit underwriting and portfolio construction.

Motilal Oswal Alternates has a strong track record in private equity and real estate, having delivered consistent top-tier returns across five funds. The real estate platform has operated as a structured credit business since inception, deploying capital across six funds with a strong exit track record. The private credit fund marks a new chapter, bringing combined institutional depth and cross-asset expertise to India’s growing private credit market.

The fund’s timeline began with its launch in January 2026, and the first close was achieved shortly thereafter. The final close is anticipated soon, with the fund already identifying a strong pipeline of investment opportunities. The fund’s strategy includes senior secured lending across growth capital and dislocated credit situations, with the ability to participate in equity upside opportunities.

About Motilal Oswal Financial Services Ltd: The company is a well-regarded equity-focused financial services group in India, with businesses across securities, asset management, wealth management, alternatives, housing finance, and investment banking. Leveraging its equities heritage and deep market presence, Motilal Oswal Financial Services Ltd is committed to supporting transformative businesses and generating superior risk-adjusted returns for its investors.