Edelweiss Asset Management: Edelweiss Asset Management raises Rs 6,600 crore in ESOF III

Edelweiss Asset Management has raised Rs 6,600 crore in its alternative investment fund – ESOF III, the largest funds raised in 2020 in the Indian Private Credit space, amidst subdued economic climate.

Fund has received commitments from marquee foreign institutional investors- Ontario Teachers’ Pension Plan Board (OTPP), Florida’s State Board of Administration, Swedish Pension Fund – AP4 and a European Insurance Investor, said a press note by Edelweiss Asset Management.

Rashesh Shah, Chairman and CEO, Edelweiss Group said that the overwhelming response they have received for ESOF III is testament to India’s growth potential and investors’ strong confidence in the Edelweiss private debt platform.

“Banks and Mutual Funds have been receding from the structured credit space in line with global trends and the current dislocation has further accentuated the need for long-term flexible capital. This presents a huge opportunity for private debt players and it’s reassuring to note that the present market environment has not deterred investors who are keen to participate in India’s long term growth story.”

Edelweiss Asset Management is one of India’s leading asset management platforms managing customer assets aggregating approximately Rs 75,000 crore. Edelweiss Asset Management houses the Alternatives Platform and the fastest growing mutual fund business in India. Edelweiss Alternative Asset Advisors (EAAA), part of Edelweiss Asset Management is the largest Alternatives platform in the country with an asset under management of Rs 30,000 crores.

Alternatives platform focused on providing high quality credit and yield opportunities to global and domestic investors

According to Hemant Daga, CEO, Edelweiss Asset Management, close-ended asset management vehicles are the preferred option for long-term credit investments as they are unlevered, patient capital vehicles.

“Having built deep expertise in the space, this fund raise is a strong validation of our capabilities to originate, underwrite, structure and realize private credit strategies. The trust placed in our platform and in our rigorous governance standards is truly humbling. We thank our investors who have shown such unwavering confidence in our ability to deliver despite market volatility.”

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