Mumbai-based financial services firm Edelweiss Financial Services Ltd has named Anil Sarin as chief investment officer (CIO) – equity for the global management group (GAM), it said on Tuesday.
In his new role, Sarin will be responsible for investment strategy and mentor long only equity investment across GAM that covers asset management services, including investment funds and credit alternative funds, mutual funds and portfolio management services.
Sarin will report to Nitin Jain, chief executive officer of Global Asset & Wealth Management unit, and will also work towards creating investment policy frameworks across Edelweiss Global Asset Management, the statement said.
He had co-founded and ran AQF Advisors, a startup providing asset management services on an outsourced basis, before joining Edelweiss.
Sarin has over 20 years of experience in fund management and started his career with SBI Mutual Funds. After that, he worked with Birla Sun Life where he grew from being a buy-side research analyst to a fund manager for Birla IT Fund, Birla MNC Fund and Birla Tax Plan.
He has also worked as co-head, equities at Prudential ICICI Prudential Mutual Fund, where he managed Dynamic Fund, Emerging Star Fund and Power Fund as well as managing director and partner at Bessemer Venture Partners.
Edelweiss functions through four clusters—credit, financial markets & asset management, life insurance and commodities.
Recently, it announced plans to expand its alternative investment funds business by adding venture capital and private equity as asset classes. It also appointed Pranav Parikh as head of PE, seed and VC funds.
Last year, it acquired Forefront Capital, a Mumbai-based hedge fund management firm focused on high net-worth individuals.
Edelweiss counts PE giant Carlyle among its institutional investors.