Hong Kong-based PAG picks 51% stake in Edelweiss Wealth for Rs 2,200 cr

PAG has been an active investor in the Asian region and most of its deals involve taking control as is the case with the latest Edelweiss investment

PAG, the Hong Kong-based private equity group, has picked up 51 per cent stake in Edelweiss Wealth Management by making a strategic investment of Rs 2,200 crore.

Edelweiss Wealth houses the capital markets and wealth management services businesses of the Edelweiss group.

At the end of June quarter, it had assets under advice worth Rs 1.27 trillion. The group handles assets belonging to 2,400 wealthy families and over 600,000 high networth individuals (HNIs).

Wealth management companies catering to the country’s rich have seen encouraging growth in assets over the past few years. The industry size is estimated to grow to Rs