Heard on the Street: Edelweiss Asset Management

Edelweiss Asset Management head quits, to start own fund

Rajeev Mehrotra, head of wholesale asset management at Edelweiss Financial Services, is learnt to have put in papers after a seven-year stint with the Mumbai-based brokerage. Mehrotra is planning to start his own fund and may raise close to Rs 500 crore. Rajeev Mehrotra has been instrumental in setting up the structured finance, real estate and infrastructure practice at Edelweiss. He also managed the $230 million Edelweiss Special Opportunities Fund. Industry officials said it raising funds as a standalone entity will be a challenge for Mehrotra, especially when established players are struggling to get money from investors.

Contributed by Shailesh Menon