Edelweiss Real Assets Managers, a part of Edelweiss Alternatives, on Wednesday announced the close of AnZen India Energy Yield Plus Trust (AnZen Trust), its maiden energy infrastructure investment trust (Invit) with an initial AUM of Rs 2,300 crore.
While Sekura Energy, which is the wholly-owned subsidiary of Edelweiss Infra Fund, is the sponsor of the Invit, Edelweiss Real Assets Managers, which is amongst the largest alternative asset advisors with an AUM of over Rs 40,000 crore, is the investment manager of the trust.
AnZen, which in Japanese means safe, secure and sustainable, is a diversified and growth-oriented energy Invit focusing on high quality energy assets.
The trust has two transmission assets with a length of 800 ckm across Punjab, Haryana and Bihar, which Sekura had bought from a private developer over four years ago for Rs 230 crore. Sekura will close this fiscal with an annuity income of Rs 213 crore, Subahoo Chordia, the head of infra funds at Edelweiss Alternatives, told PTI.
He said the first close of the fund-raise was achieved through private placements and received an encouraging response from a diversified set of institutional and other eligible investors who hold 26 per cent of the units, and the remaining 76 per cent is held by Edelweiss Infra Fund.
Ranjita Deo, the chief investment officer at AnZen Trust, said the Invit will be looking to invest in a diversified portfolio of energy assets, including transmission lines and renewable power projects to provide long-term predictable yields to the investors.
These transmission assets have a residual transmission service agreement tenure of over 30 years under the point of connection mechanism managed by PowerGrid Corporation, Chordia said.
Additionally, it also has got the right of first offer on the shareholding of its sponsor/affiliates in 12 solar energy assets with an aggregate generation capacity of 813 mw, he added.
Edelweiss Alternatives, which pioneered private debt in the country launching a USD 230-million (then Rs 1,000 crore) fund in 2010, has since then grown to be one of the largest alternatives platforms in the country with an AUM of Rs 40,000 crore now.
It is focused on providing high quality credit and yield opportunities to global and domestic investors across performing credit (corporate and realty), special situations and infrastructure yield and its clientele comprises domestic and global pension funds, insurers, large family offices and ultra-high networth individuals.