Edelweiss Asset Management Ltd on Tuesday announced the appointment of Ashish Agarwal as managing partner-private equity in the alternative investment funds (AIF) team.
Agarwal was previously associated with Navis Capital Partners for more than a decade and a half. Since 2015, he was the fund manager of Navis Jockey Fund—an Asian public equities fund with a focus on India. Agarwal’s investing experience spans private equity and public equity funds; mid-market transactions in India, Europe, the US, and South East Asia and across sectors.
Commenting on the appointment, Radhika Gupta, managing director and chief executive officer, Edelweiss AMC, said, “Our alternative investment funds focus on unique uncorrelated ideas that complement traditional investments. Innovative companies in sunrise sectors are staying private longer and this is fueling unprecedented demand from both founders and investors for private equity investments.”
As per the fund house, Agarwal’s addition will allow it to capitalize on the multi-decade trend through the upcoming fund in the private equity space.
The proposed strategy will invest in market leaders with strong unit economics in sunrise sectors and take advantage of the attractive valuations many of these businesses trade at today.
Last month, Edelweiss strengthened the long-only equity mutual funds franchise with the appointment of Trideep Bhattacharya as co-chief investment officer-equities, Abhishek Gupta, and Sahil Shah into its equity fund management team.
“We are delighted to have Ashish on board. Our AIF funds have a consistent track record, are gaining size and it is important to add more talent to this team to maintain our market leadership as we move forward. Ashish’s two decades of investing and operational experience across various sectors and geographies will also add strength to our Alternative Investment Funds business,” said Nalin Moniz, CIO-alternative equity, Edelweiss AMC said.
Edelweiss AMC now has an 18-member strong equity investment team managing money across long-only equities, hybrids, and alternatives.
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