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Edelweiss Financial Services has acquired Mumbai-based asset management company Forefront Capital Management for an undisclosed sum.
Forefront will now be part of the Edelweiss Group and this will further strengthen and diversify Edelweiss’s presence in the asset management space, it said in a statement.
“The asset management space is slated to grow rapidly with increasing economic prosperity and the move from savings to investment. With this, we will widen and deepen our presence in the asset management space and provide additional innovative investment solutions to our clients,” said Rujan Panjwani, Executive Director at Edelweiss Group.
The founders, Nalin Moniz and Radhika Gupta, will continue to lead and manage the business. Forefront, set up in 2009, currently manages a wide array of investments from value-oriented equity strategies to multi-asset allocation strategies. It also has expertise in research, advisory, investments and trade execution.
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