Edelweiss arm aims to raise $1 billion in third distressed asset fund ...Middle East

Business Standard - Economy
Edelweiss Alternative on Tuesday said it is targeting to raise USD 1 billion (about Rs 8,000 crore) in its third distressed asset fund, eyeing strong opportunities in the space. The company has already raised USD 425 million or Rs 3,400 crore for the third 'Special Situations Fund' (SSF III) from large insurance companies and pension funds globally, as also domestic high net individuals and family offices, it said in a statement. Under an SSF, the company focusses on asset heavy companies and identifies viable underlying businesses that have a strong turnaround potential, or invest in situations where resolution of asset requires capital and domain expertise, it said. In the second fund laun

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