Edelweiss alt investment arm raises $900 mn in largest funding this year

Investors include Ontario Teachers' Pension Plan Board, Florida's State Board of Administration, Swedish Pension Fund - AP4 and a European insurance investor

Edelweiss Group on Monday said it secured an investment of $890 million from global investors, in its alternate investment arm.  

The investment, the equivalent of Rs 6,600 crore, will be deployed in Edelweiss Alternate Asset Advisors’ (EAAA) for a fund--ESOF III--which is focused on providing structured credit to Indian companies. 

EAAA is part of Edelweiss Asset Management (EAM), which has an asset under management of Rs 75,000 crore, including Rs 30,000 crore in alternative fund.  

This is the largest fund raise in the year in the Indian private credit space, amid subdued economic climate, said Edelweiss. Investors include Ontario Teachers’