Edelweiss Financial Services has purchased a high-net-worth (HNW) focused asset management firm Forefront Capital Management for an undisclosed sum.
The acquisition will expand and diversify Edelweiss footprint in the asset management space as well as will increase its offerings.
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As part of the deal, Forefront will operate as part of the Edelweiss Group.
Rujan Panjwani, executive director at Edelweiss Group, said: "Forefront’s high quality management, innovative and multilayered product portfolio, and deeply ingrained ‘process driven’ investment philosophy is synergistic to Edelweiss’s existing asset management business."
Radhika Gupta, co-founder, Forefront Capital Management, said: "In Edelweiss, we believe we have found a terrific partner who will provide a larger platform to launch innovative ideas for domestic and international investors across the asset management space.
"With our combined market knowledge and expertise and Edelweiss’s institutionalised risk management, corporate governance, technology and full complement of financial services, our clients will be provided world class asset management products as well as holistic investment solutions," she added.
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