MUMBAI: Motilal Oswal Real Estate (MORE), the real estate arm of Motilal Oswal Private Equity (MOPE), has raised over Rs 1,000 crore for its third real estate fund and plans to invest the money in structured debt and mezzanine transactions across the six top Indian cities. IREF III has committed 70% of its capital across total 12 transactions in these markets and is likely to be fully committed by the end of current financial year, people close to the development said.MORE has till date invested in the sector through three real estate funds Along with NCDs and proprietary investments, its cumulative assets under management are currently over Rs 2,000 crore. It raised Rs 200 crore under IREF in 2009-10 and Rs 500 crore under IREF II in April 2015 and has now achieved final closure for third fund."We have retuned 43% capital from our second fund with average investment level IRR of 24% and this has helped us in robust response for third fund,” said Sharad Mittal , head, Real Estate Funds at MORE.