Edelweiss raises Rs 3400 cr in its third Special Situations Fund

Edelweiss Alternative Asset Advisors, subsidiary of Edelweiss Financial Services, announced, raising ~USD 425 million (Rs 3,400 crore) in its third Special Situations Fund (ISAF III). The Fund has received CRISIL Fund Management Grading -1 denoting very strong standards in investment process & management practices. It has got commitments from leading institutional global investors, which include large insurance companies and pension funds as well as HNIs and family offices from India. The Fund is targeting to raise USD 1 bn with a green shoe option of USD 500 mn.

Special Situations strategy Fund (Series II), which had seen the largest fund raise in Alternatives in India in 2018, is on track to successfully deliver superior risk adjusted returns to its investors. Series II, apart from investing over Rs 10,500 crore across deals, has also exited several transactions and realized more than Rs 9,500 crore from portfolio companies.

The Special Situations strategy focusses on asset heavy companies and identifies viable underlying businesses that EAAA believes, have a strong turnaround potential and / or invest in situations where resolution of asset requires capital and domain expertise.

Special Situation Fund (Series III) that was launched as "ISAF III Fund" aims to create value for investors on similar lines and has seen strong investor interest.

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