Tue. Jan 31st, 2023

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Edelweiss Financial climbs 5%

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Edelweiss

Shares of Edelweiss Financial Services gained 5 percent intraday on September 3 after the company penned a deal where Canada-based Ontario Teachers will invest $350 million in its debt management firm Edelweiss Alternate Asset Advisors (EAAA).

“Despite the global economic uncertainty amidst the current pandemic, this commitment from Ontario Teachers’ is a strong endorsement of the Indian alternative asset management space as well as the robust and unique private debt platform built by EAAA,” the financial services conglomerate said in its statement.

On September 2, Edelweiss Group announced that Ontario Teachers’ Pension Plan Board, Canada’s largest single-profession pension plan, has signed an agreement for an investment of $350 million (around Rs 2,600 crore) with Edelweiss Alternate Asset Advisors (EAAA), the largest private debt manager in India.

EAAA has assets under management (AUM) of approximately $3 billion or about Rs 23,400 crore.

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