Mumbai financial services firm Edelweiss acquires Forefront Capital Management.

Edelweiss Financial Services, the Mumbai-based financial services firm, has expanded its business with the acquisition of an asset management company focused on high net worth clients.

The takeover of Forefront Capital Management is for an undisclosed amount and is meant to provide "additional investment solutions" for Edelweiss' clients, according to a statement. 

Forefront, founded by Radhika Gupta, Nalin Moniz and Anant Jatia, currently manages investments on the absolute return space, offering both alternative and traditional products. It has around 200 clients that include corporate treasuries, promoters, executives and single family offices across 12 cities in India. 

Moniz and Gupta will continue to lead and manage the business after the acquisition, while Jati will join his family business.