Multi-family office firm Waterfield hits first close of Rs.500-Cr Fund-of-Funds

Multi-family office and wealth advisory firm Waterfield Advisors has raised INR 200 crore, about 40% of its total target corpus, for its maiden INR 500 crore Fund of Funds (FoF). The fundraise came in within three months of the fund receiving SEBI approvals. The fund has an additional INR 250 crore green-shoe option, which Waterfield expects to exercise for the fund's final close by September end. The first close saw commitments from single-family offices and ultra-high net worth individuals, it is claimed.