Edelweiss subsidiary acquires two Milestone Capital funds

The two funds are SEBI-registered Category II Alternate Investment Funds and hold a combined AUM of more than Rs. 150 crores. The company is also hiring the fund's investment team.

Edelweiss Financial Services informed that its subsidiary Edelweiss Alternative Asset Advisors Limited (EAAA), has acquired two funds from Milestone Capital Advisors Limited. The funds, namely Milestone Opportunities Fund 10 and Milestone Commercial Advantage Fund, are Milestone’s Commercial Real Estate (CRE) Funds.

The acquisition will strengthen the Edelweiss group’s strategy to expand its asset platform and provide a wider range of investment options to its client base. Edelweiss group is upbeat on the commercial real estate space and expects demand from international investors including large pension funds and insurers wanting to acquire Grade-A commercial real assets for long-term investment.

EAAA is among India’s largest alternative asset management platforms and has over US$ 2 billion of assets under management (AUM). While Milestone is a privately-owned independent real estate investment management platform. It has raised over Rs. 3,900 crore till date.

At 9:21 hours, the stock of Edelweiss Financial Services Limited was Rs. 285.00 per share, up by 1.93 per cent on Monday. While BSE Sensex was at 37,647.57, down 221.66 points or 0.59 per cent.