PAG has been an active investor in the Asian region and most of its deals involve taking control as is the case with the latest Edelweiss investment.
Weijian Shan, Chairman and CEO, PAG said, “We strongly believe in the long-term growth of the Indian economy. The investment in Edelweiss Wealth marks a milestone in PAG’s investments in the India market.”
Over the years, Edelweiss has divested stakes in individual business. It has sold 49 per cent stake in Tokio Marine in the life insurance business and seen investments by Canada’s CDPQ in its non-banking financial services (NBFC) business. PAG investment will not cover Edelweiss Asset Management.