Edelweiss launches third credit fund, plans to raise $1 billion

Edelweiss Global Wealth and Asset Management has launched its third credit fund, one where it plans to raise $750 million to $1 billion (Rs 5,200 to Rs 7,000 crore).

“We got all approvals in March to launch the Edelweiss Special Opportunities Fund III (ESOF III), after which we have started marketing it to our clients,” said Hemant Daga, president and deputy chief executive of the Mumbai-based entity.

The first close is planned for the second half of this year, he said.

Of the previous tranches, ESOF I has been closed, with capital returned to the investors, while ESOF II is in the deployment