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Edelweiss Various Asset Advisors Declares Ultimate Shut Of $900 Mn AIF

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Edelweiss Various Asset Advisors (EAAA), an asset administration platform, publicizes the ultimate shut of its $900 Mn different funding fund ESOF III

ESOF III will look to supply structured credit score to Indian firms and has acquired commitments from marquee international institutional traders

Hemant Daga, CEO of EAM claims that the fundraise, amid a subdued financial local weather, is an endorsement of the alternatives within the Indian different asset administration house

Edelweiss Various Asset Advisors (EAAA), an asset administration platform with property price INR 75,000 Cr underneath administration, on Monday (October 19), introduced the ultimate shut of its $900 Mn (INR 6,600 Cr) different funding fund ESOF III, third within the Edelweiss Particular Alternatives Fund (ESOF) collection. The primary two funds within the ESOF collection have been launched in 2010 and 2015 respectively. EAAA 

The asset administration platform, which is part of Edelweiss Asset Administration (EAM), via ESOF III, will look to supply structured credit score to Indian firms and has acquired commitments from marquee international institutional traders — Ontario Academics’ Pension Plan Board (OTPP), Florida’s State Board of Administration, Swedish Pension Fund AP4 and a European insurance coverage investor. EAAA additionally has different funding funds, such because the Edelweiss India Confused Asset Fund, launched final yr, and Edelweiss Infrastructure Yield Plus, launched in 2018. 

“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,” stated Rashesh Shah, chairman and CEO Edelweiss Group. 

“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.”

Whereas the tough market setting this yr, amid the monetary disruption attributable to the Covid-19 pandemic, noticed the Indian economic system contract by 24% within the June quarter of the monetary yr (FY) 2020 and a number of other Indian firms announce layoffs, furloughs and pay cuts for his or her workers, there appears to have been a constructive sentiment amongst traders within the Indian startup economic system July onwards. 

Based on an Inc42 Plus evaluation, between January to September 2020, up to now $8.1 Bn has been invested into Indian startups throughout 652 funding offers. Of the entire funding quantity, 51% or $4.1 Bn was invested in startups within the first quarter (Q1) of 2020 throughout 208 offers. Thereon, the funding quantity fell drastically, by greater than 74% to $1.05 Bn throughout 179 offers in Q2 2020. The numbers for Q3 2020 have recovered from the earlier quarter, with the funding quantity rising by 167% to $2.Eight Bn and the deal rely rising by 46% to 261 offers.

Hemant Daga, CEO of EAM claims that the fundraise for ESOF III, amid a subdued financial local weather, is a powerful endorsement of the alternatives within the Indian different asset administration house. 



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