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Edelweiss to raise $425 million with South Korea’s Mertiz for realty financing

This is the first fund for a platform that aims at raising $1 billion from international investors over next 12 months, Edelweiss said on November 12.


Edelweiss group has partnered with South Korean financial Group Meritz to raise $425 million for its realty financing platform dedicated for the completion of housing projects.


This is the first fund for a platform that aims at raising $1 billion from international investors over the next 12 months, Edelweiss said on November 12.


“The platform will house funds that will buyout existing residential real estate loans and provide requisite completion financing to good quality, commercially viable projects,” Edelweiss said, adding that the funds would be managed by its alternative asset management business.


Seoul-based Meritz Financial Group that has expertise in real estate investment in Korea manages around $46.5 billion worth of assets. Edelweiss said this would be its first partnership with an Asian institutional investor.


The announcement comes a week after the Indian government decided to launch an Alternative Investment Fund (AIF) of Rs 25,000 crore in order to rescue incomplete middle-income and affordable housing projects in the country.

“This will unlock value for both home buyers and lenders and is expected to create a virtuous cycle in the real estate sector, which is the second largest employer in India. The resultant boost to real estate dependent industries like steel, cement, iron as well as allied ancillaries, including small scale industries is expected,” Edelweiss said.



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First Published on Nov 12, 2019 12:53 pm
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