Gupta, the only female chief executive officer of a major asset manager in India, says it's "risky to be underweight equities" at a time when local stocks remain "heavily" driven by liquidity
Investors include Ontario Teachers' Pension Plan Board, Florida's State Board of Administration, Swedish Pension Fund - AP4 and a European insurance investor
The investment will be deployed in Edelweiss Alternate Asset Advisors' (EAAA), a platform that manages AUM of $3 billion
Long-short funds try to profit from both rise and fall in asset prices, whereas long-only funds try to buy undervalued assets and gain if the asset price appreciates
The regulatory changes are not as disruptive as how people are making them to be, Gupta said