Asian AM Firm PAG Invests in Wealth Management and Capital Markets Business of Edelweiss Financial
Posted on 08/28/2020
Asset management firm Pacific Alliance Group (PAG) agreed to buy a 51% stake in the wealth management and investment banking unit of India’s Edelweiss Financial Services for US$ 300 million (Rs 2,244 crore). This business being invested in is called Edelweiss Global Investment Advisors. Parent company Edelweiss Financial Services will retain an around 37% to 41% stake in Edelweiss Global Investment Advisors, while existing investors Sanaka Capital and U.S.-based Kora Management will own a reported combined 12% stake.
In Edelweiss, both these businesses come under the umbrella of Edelweiss Global Wealth Management Limited (EGWML). This is PAG’s first private equity investment in India.
Advisors
Haitong Securities was the adviser to Edelweiss.
