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Edelweiss Financial Services closes stressed-assets fund, raises 92B rupees

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Edelweiss Financial Services closes stressed-assets fund, raises 92B rupees

Edelweiss Financial Services Ltd. closed its alternative assets-focused fund, EISAF II, and raised 92 billion rupees.

The fund invests in stressed assets with an aim to turnaround viable nonperforming assets. EISAF II received commitments from global investors, including insurance companies and pension funds, according to a Jan. 17 release.

As of Jan. 17, US$1 was equivalent to 71.11 Indian rupees.