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Edelweiss raises $100M under hedge fund unit Forefront Capital

Forefront Capital, a Mumbai-based hedge fund management firm, said it has raised about $100 million (Rs 655 crore) from domestic and global investors within 15 months of its acquisition by Edelweiss Financial Services Ltd.

The company, which focuses on drawing capital from affluent individuals, claims it has delivered positive returns despite volatile market conditions in the past six months.

“Our risk adjusted performance has been extremely strong and this alternative approach to equities has been much appreciated by clients. We have continued to take our offerings to domestic private banks and are now expanding our reach to global private banks,” said Radhika Gupta, business head, Forefront Capital.

The company was the first hedge fund to get registered under the Securities and Exchange Board of India's Alternative Investment Fund (Category III) regulations.

Co-founded by Radhika and Nalin Moniz, Forefront manages a range of investments focused on the absolute return space, from value-oriented equity strategies to multi-asset allocation strategies.

Radhika and Moniz are alumni of the University of Pennsylvania/The Wharton School. While Radhika worked as a portfolio manager with Goldman Sachs Asset Management, Moniz was with AQR Capital Management (an $80 billion hedge fund) as a portfolio manager prior to founding Forefront in 2009.

Forefront is the multi-strategy funds business of Edelweiss Global Asset Management, a $4.5 billion asset management business. Its team has doubled over the last two years, with almost half of its employees being women.

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