Edelweiss group targets $1billion corpus for its first infra fund

MUMBAI: The Edelweiss group is raising its first infrastructure fund, targeting a corpus of at least $1 billion, its largest alternative asset fund till date, said three people aware of the development.

The group, through its various entities, manages several alternative investment funds such as credit funds, real estate funds and a distressed assets fund.

“Edelweiss plans to raise its first infrastructure fund and is targeting to raise at least $1 billion for it. The group has initiated preliminary discussions with investors and is currently also busy with setting up the team to manage the platform,” said one of the two people cited above, requesting anonymity as he is not authorised to speak with the media.

Edelweiss will start fullfledged marketing road shows for the fund raise by the end of December or early January, he said, adding that it expects to have the investment team in place by December.

“The firm will target a first close of $300-400 million and a final close of at least a billion dollars. Funds will be raised from both domestic and overseas institutional investors and to a small extent from high net-worth individuals,” the first person said.

According to the second person cited above, the fund will look at owning only operating assets in three sectors—roads, transmission and renewable energy. He too requested anonymity.

An email sent to Edelweiss group on Tuesday evening was not answered till press time.