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Edelweiss Declares Close of 900 Million USD AIF

Rashesh Shah, Chairman and CEO of Edelweiss India

Edelweiss Alternative Asset Advisors, EAAA (1), is an asset management platform and has assets worth over 75,000 Crore INR under its management. On Monday, the firm announced the final close of its 900 million USD or 6,600 Crore INR alternative investment fund ESOF III.

It is the third in the series of Edelweiss Special Opportunities Fund or ESOF. The company launched the first two rounds of its ESOF series in 2010 and 2015, respectively.

The company would provide structured credit to Indian entities with the ESOF III. Moreover, Edelweiss has also received commitments from marquee foreign institutional investors. It includes Ontario Teachers Pension Plan Board, OTPP, State Board of Administration Florida, Swedish Pension Fund AP4, and a European insurance investor.

Edelweiss also has several other investment funds such as Edelweiss India Stressed Asset Fund, launched in 2019, and 2018 established, Edelweiss Infrastructure Yield Plus.

Edelweiss to take Opportunity in the Structured Credit Space

While commenting on the development, the Chairman and CEO of Edelweiss Group, Rashesh Shah, stated that mutual funds and banks withdraw from credit space with global trends. The current scenario has further emphasized the requirement for long-term, flexible capital.

He added that it offers a huge opportunity for private investors and debt players to assure that there is no hinder in investors in the present market who keeps involved in India’s long-term growth story.

According to the estimates, between January to September, a total of 8.1 Billion USD has been invested in Indian startups across 652 funding deals. 51% of the total funding amount or about 4.1 billion USD was invested in the first quarter of 2020 across 208 deals.

After that, a drastic fall was observed in the funding amount to 74% or 1.05 billion USD across 179 deals in quarter 2, 2020. The numbers of quarter three observed recovery from the previous quarter with funding amount rising by 167% or 2.8 billion USD. The number of deals also increased by 46% to 261 deals.