The Edelweiss Group to acquire Ambit Alpha Fund

September 27, 2016

On September 22, 2016, The Edelweiss Group announced an agreement to acquire Ambit Alpha Fund, a Category III alternative investment fund.

The acquisition will add more than INR 1,000 crore in assets under management to The Edelweiss Group (“Edelweiss”). The transaction is contingent upon due diligence and regulatory approvals. If completed, it will mark the second asset management transaction for Edelweiss within the previous months, coming after the acquisition of JP Morgan’s onshore mutual fund schemes.

Edelweiss is an Indian financial services firm with a client base that includes corporations, institutions and individuals. For the 2016 fiscal year, it has an asset base of more than INR 33,000 crore, with revenues of INR 5,316 crore and net profits of INR 414 crore.

Ambit, a Mumbai, India-based investment bank, manages the Ambit Alpha Fund. Ambit offers financial products and services in several sectors, including corporate finance, institutional equities, private equity, asset management, wealth management and structured finance.

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Investment Manager M&A, Mutual Fund M&A, Transactions