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Motilal Oswal Alternates hits final close of ₹8,500 crore for fifth private equity fundMotilal Oswal Alternates closed India Business Excellence Fund V at ₹8,500 crore, its largest PE fund, attracting global investors and raising total AUM to over $3.3 billion by February 2026.By CNBC-TV18 February 16, 2026, 4:54:08 PM IST (Published)2 Min ReadMotilal Oswal Alternates announced the final close of its fifth private equity fund -- India Business Excellence Fund V -- at its hard cap in February 2026, marking the largest in the firm's private equity history, the company said in a statement on February 16.

The fund saw participation from both global and domestic investors, crossing its initial fundraising target of ₹6,500 crore, and completed the process under ten months from its launch in mid-April 2025.

With the final close of IBEF V (₹8,500 crore) and the successful raise of IREF VI, or Indian Realty Excellence Fund VI, (₹2,000 crore), and the launch of private credit, the firm's total AUM now exceeds $3.3 billion.

IBEF V attracted commitments from a diverse global investor base, including the US, Europe, Japan, the Middle East, India, and the broader Asian region.

Investors encompass Adams Street Partners, Schroders, one of the funds managed by Neuberger Berman, International Finance Corporation (IFC), Oman Investment Authority, Axiom Asia, leading Japanese institutions, domestic financial institutions including prominent banks and insurance companies, as well as a wide range of reputed international and domestic family offices, according to a statement from Motilal Oswal Alternates.

“Despite an environment marked by economic uncertainty and geopolitical volatility, the successful outcome of this fundraise reflects the deep trust placed in us by leading global asset managers and domestic investors,” said Rohit Mantri, MD and Co-head, Motilal Oswal Alternates (PE). “This confidence has been built through sustained engagement, disciplined investment processes, consistent outcomes across prior fund vintages, and steady capital distributions.”

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Fund V will invest approximately $40-$100 million in mid- to late-stage businesses across the fund's core sectors, including consumer, financial services, niche manufacturing, healthcare, and technology-led businesses in these sectors.

“We have been privileged to partner with an exceptional group of promoters and companies that are shaping the future of their respective industries, and we are proud to have enabled value creation of over USD 40 billion across these businesses,” said Vijay Dhanuka, MD and Co-head, Motilal Oswal Alternates (PE).

The private equity fund has made 51 investments and completed 24 successful exits to date, generating approximately $1 billion in liquidity and a realised multiple on invested capital (MOIC) of nearly 4x, according to the company’s statement.Continue Reading