Mumbai-based Edelweiss Alternatives has extended final close of its second infrastructure fund by three months to December, a source familiar told Infralogic.

Infrastructure Yield Strategy-Infrastructure Yield Plus II (IYP II) has a hard cap of USD 1.5bn, he said, but intends to raise around USD 1.1bn to USD 1.2bn.

The fund manager said in March this year that it had raised INR 80bn (USD 966m).

It is targeting limited partners in Europe as well as the Middle East, the source said.

Edelweiss raised INR 33bn for the preceding vehicle in 2020, its first infrastructure investment platform. That fund is fully deployed.

Edelweiss Alternatives manages about USD 6.6bn across several funds spanning real estate, special situations, infrastructure and performing credit. Of this, infrastructure accounts for USD 1.4bn across 26 committed deals, according to its website.

The infrastructure investments are made through Sekura India, an operations and management platform.

Edelweiss Alternatives declined to comment.

[Editor’s note: The article has been updated post-publication to note that Edelweiss Alternatives declined to comment.]