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Edelweiss Group announces partnership with Meritz Financial Group

Tuesday, 12 Nov 2019
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The Edelweiss Group has announced a partnership between Edelweiss Alternative Asset Advisors (EAAA) and South Korean Financial services conglomerate Meritz Financial Group, to launch the first fund of the financing platform set up by Edelweiss.

The platform will house funds that will buyout the existing residential real estate loans and provide requisite completion financing to good quality, commercially viable projects. The funds within the platform will be managed by Edelweiss’s Alternative Asset Management business.

The first fund of this platform is targeted to be of USD 425 million. The platform is targeting to raise USD one billion, primarily from similar International Institutional investors over the next one year.

One of the key objectives of the platform is to identify and invest in commercially viable, good quality projects and help them with financing and project management skills necessary for successful completion and delivery of homes.

The move is also expected to boost real estate dependent industries such as steel, cement, iron as well as allied ancillaries, including small scale industries.

The partnership between the two companies is aligned with the government’s intent to support the residential real estate sector in the country, with the recently announced Rs 25,000 crore allocation to Alternative Investment Funds for middle income and affordable housing projects.

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