We are pleased to announce the final close of Motilal Oswal Alternates’ fifth private equity fund, India Business Excellence Fund V (IBEF V), at its hard cap of USD 950 million in February 2026 (INR 85 billion).
The Fund attracted strong global and domestic investor interest, with commitments from institutional investors across the US, Europe, Japan, the Middle East and the rest of Asia, as well as a broad base of international and domestic family offices.
IBEF V will target investments of approximately USD 40-100 million in mid- to late-stage businesses across diversified sectors including consumer, financial services, niche manufacturing, healthcare and technology-led businesses. The firm focuses on partnering with first-generation entrepreneurs operating in large and scalable industries, with strong competitive advantages and market leadership positions.
Asante Capital Group acted as exclusive global placement adviser for the fundraise.
About Motilal Oswal Alternates
Motilal Oswal Alternates (MO Alternates) is one of India’s leading alternative investment platforms, with investments across private equity, real estate and private credit strategies. With the final close of IBEF V, the successful raise of IREF VI (INR 20 billion) and the launch of private credit, the firm’s total AUM now exceeds USD 3.3 billion, underscoring the scale and institutional depth of its investment platform.
About Asante
Asante Capital Group is a leading independent private equity placement and advisory group. Founded in 2010, the firm has offices in London, New York City, Hong Kong, Munich, and Los Angeles. The team of over 75 professionals has advised on over $100 billion of successful private capital raisings across the globe, raising capital from North American, European, Middle East, and Asia-Pacific-based investors. Asante specializes in GP advisory and fundraising support across primary, direct, and secondary investments.
