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Kora Management to infuse USD 125 million in Edelweiss Group

Friday, 16 Aug 2019

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Kora Management has pledged to make an investment of as much as USD 125 million in financial services conglomerate Edelweiss Group.

Of the total investment, Kora Management has committed USD 75 million in the group’s advisory business, Edelweiss Global Investment Advisors (EGIA). Besides, Kora Management plans to invest an additional USD 50 million in Edelweiss, and is in the process of finalising the timing and structuring of the deal.

Apart from Kora Management, Mumbai-based Edelweiss Group is also in talks with other investors to join the first external investment round in EGIA, which will be limited to USD 200 million.

The credit business of the group, ECL Finance, also got commitments of over Rs 1,800 crore (USD 250 million) from Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), an existing investor in the Edelweiss Group. The strategic investment, made via CDPQ Private Equity Asia Pte, sought to capitalise on opportunities in the credit market.