India’s Edelweiss: Sponsors eye wealth of opportunity
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WEALTH

India’s Edelweiss: Sponsors eye wealth of opportunity

Edelweiss has grown over 25 years into an independent and successful diversified financial services group, but it needs capital. Its decision to sell a controlling stake in its wealth management business spotlights the institution and the potential of the sector.

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In late August, Hong Kong-based private-equity firm Pacific Alliance Group (PAG) cemented a Rs22 billion ($300 million) investment to take a majority stake in Edelweiss Wealth Management, one of India’s leading specialist financial services operators.

For PAG, it was a strong statement in a market where it says it expects to invest $1 billion in the next two to three years; for Edelweiss, it was a welcome capital influx to allow it to grow not only wealth but also a clutch of other businesses that were not on the block in the PAG sale.

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