Edelweiss to raise realty financing fund with Meritz Financial

The Edelweiss group is planning to raise up to $1 billion in dedicated real estate funds, and deploy the proceeds in completion financing for housing projects stuck due to liquidity or solvency constraints. This move comes a week after finance minister Nirmala Sitharaman announced establishing an alternative investment fund (AIF) to give last-mile financing to lower and middle income housing projects. Edelweiss has partnered South Korea’s Meritz Financial group to launch the first fund of $425 million.