Edelweiss Financial Services Ltd. subsidiary Edelweiss Alternative Asset Advisors Ltd. will acquire two funds of Milestone Capital Advisors Ltd.
The two funds, Milestone Opportunities Fund 10 and Milestone Commercial Advantage Fund, have a combined asset under management of over 1.5 billion rupees.
Edelweiss will also absorb the investment team of the two funds. The company said the acquisition is part of the group's strategy to further strengthen its yielding asset platform.
The transaction is subject to regulatory approvals.
As of Aug. 10, US$1 was equivalent to 68.99 Indian rupees.