Edelweiss Alts bets on robust returns from second fund

Edelweiss Alternatives, which is in the process of raising capital for its third special situations fund, is expecting robust exits from the second fund over the next fiscal year, a top executive told VCCircle.

- Priyal Mahtta

The second special situations fund managed by the Mumbai-based alternative asset manager mopped up about $1.2 billion from investors and VCCIF marked its close in December 2018. As of last year, Amit Agarwal, the president and head of private credit at Edelweiss Alternatives, said that the fund had exited a chunk of its investments from the alternative investment fund (AIF), and has returned the primary capital to its investors.

So far, the asset manager has realized about ₹14,000 crore, or nearly $1.7 billion, from the commitments made from ESAF II.