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Edelweiss to raise Rs 2,000 crore for stressed assets

Press Trust of India  |  Mumbai 

Edelweiss Alternative Asset Advisors (EAAA), a subsidiary of Edelweiss group, today said it plans to raise up to Rs 2,000 crore through an to invest in stressed and distressed assets.

This EISAF II Onshore Fund, which is part of a Singapore-based global fund, EISAF II, will include Rs 1,000 crore green shoe option.

"The fund's investment mandate is centered around acquisition of non-performing debt from banks or financial institutions, funding companies for debt settlements, working capital financing and acquisition of stressed companies going through insolvency proceedings under the National Company Law Tribunal (NCLT)," chief executive (global wealth and asset management), Nitin Jain, said in a release.

The fund will be focusing on assets with established infrastructure, viable business models and cash flow generation potential, its said.

Edelweiss group's asset reconstruction company, (EARC), has an asset under management of over Rs 4,41,000 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 12 2018. 20:15 IST