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Motilal Oswal Alternates Files for Rs 30 Billion Debut Private Credit Fund

The SEBI filing signals a push to serve IPO-bound mid-market borrowers in a still-small private-credit market.

Overview

  • Motilal Oswal Alternate Investment Advisors has applied to SEBI to raise up to Rs 30 billion (about $336 million) for its first private credit fund.
  • Fundraising is planned for 2026, with a potential first-quarter launch if regulatory approval comes through.
  • The strategy targets mid-sized companies aiming to list in two to three years, focusing on growth capital and special-situation financings including tariff-related stress.
  • The firm plans to open a GIFT City office to attract international investors to the strategy.
  • Motilal Oswal Alternates reports roughly $3.1–3.2 billion in existing assets as India’s private-credit market logs record deals yet totals only about $17–18 billion.