Edelweiss Wealth targets to raise Rs 1,000 crore for equity-focused AIF

Edelweiss Wealth Management is targeting to raise Rs 1,000 crore from domestic investors for its maiden equity-focused alternate investment fund (AIF), according to persons in the know. The fundraising, which comes amid a strong rally in the markets that has led to concerns overvaluation, will take about 6-9 months, and the company will target high-networth individuals (HNIs), family offices and institutional investors for investment commitments, the sources said. When contacted, Edelweiss declined to comment.