Edelweiss Alternative Asset Advisors Ltd (EAAA), a subsidiary of Edelweiss Financial Services Ltd, today said it will acquire two funds of Milestone Capital Advisors Ltd.
Financial details of the transaction could not be ascertained.
The two funds to be acquired by Edelweiss Alternative Asset Advisors Ltd are Milestone Opportunities Fund 10 and Milestone Commercial Advantage Fund and have a combined asset under management of over Rs 150 crore.
“Edelweiss is also absorbing the high quality investment team of these funds who bring over a decade of rich experience in Commercial Real Estate (CRE). The transaction is subject to requisite regulatory approvals,” the company said in a regulatory filing.
EAAA’s acquisition of Milestone’s Commercial Real Estate (CRE) Fund is part of the group’s strategy to further strengthen its yielding asset platform while widening the range of investment opportunities to its clients, the company said.
Edelweiss Group currently manages customer assets of over $26 billion, of which EAAA, has over $2 billion of assets under management.