Edelweiss Financial Services rises around 2 per cent after Edelweiss Asset Management raise Rs 6,600 crore under ESOF III
Edelweiss Alternative Asset Advisors today announced the final close of its Rs 6,600 crore alternative investment fund - ESOF III.
Canada’s Ontario Teachers’ Pension Plan Board, Florida’s State Board of Administration, Swedish Pension Fund - AP4, and European Insurance Investor are the international investors that have invested in this fund.
Reacting to the news, the stock jumped 2.19 per cent and made an intraday high of Rs 58.30 on BSE.
This is the largest fund raised in the year 2020 in the Indian private credit space and the third fund in Edelweiss special opportunities fund series. It focusses on providing structured credit to the Indian companies.
Edelweiss Alternative Asset Advisors is a part of Edelweiss Asset Management, which is an asset management arm of Edelweiss Financial Services. Edelweiss Asset Management has an AUM of Rs 75,000 crore.
At 1.34 pm, the stock of the company was trading at Rs 56.95, down by 0.18 per cent.