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Edelweiss, the Financial services firm has said that one of its group firms will be acquiring Ambit Alpha Fund for an undisclosed sum.
The company has said in a BSE filing that “An Edelweiss group entity has agreed to acquire Ambit Alpha Fund, a category III Alternate Investment Fund with an AUM of over Rs 1,100 crore, and will be its new investment manager.”
Rajesh Shah, Edelweiss Group Chairman & CEO has said that “We are seeing the financial savings of Indian investors shifting from hard assets like goal and real estate to financial instruments. This movement presents exciting opportunities in the rapidly growing asset management space. Ambit Alpha Fund is one of the market leading Alternate Investment Funds in the country and allows us to consolidate our market position in this business.”
