Build stronger portfolios with our unparalleled expertise in alternatives
Nuvama Asset Management Limited (NAML), formerly known as ESL Securities Limited, is registered with SEBI as a Portfolio Manager vide Registration Number INP000007207 (valid in perpetuity unless cancelled or surrendered). CIN: U67190MH2019PLC343440. NAML is a wholly owned subsidiary of Nuvama Wealth Management Limited (Nuvama), which is backed by PAG as promoter — a leading Asia-focused alternative investment firm. NAML provides Portfolio Management Services (Discretionary, Non-Discretionary and Advisory) and acts as Investment Manager for multiple Category II and Category III Alternative Investment Funds. As of December 2025, the Asset Management business has ₹12,000+ Cr AUM, 4,500+ investors, ₹8,500+ Cr funds raised, and 30 distribution partners. NAML's address is 801-804, Wing A, Building No. 3, Inspire BKC, G Block, Bandra Kurla Complex, Bandra East, Mumbai 400051. Nuvama Group (formerly Edelweiss Wealth Management) is a fully integrated wealth and asset management platform with over 25 years in the Indian market, overseeing ₹4.4+ trillion of client assets. The group operates across Wealth Management, Asset Management, and Capital Markets verticals.
Sorted by 3-year return. Returns are TWRR, net of fees; CAGR above 1 year.
Nuvama Equities eXpansion Target (NEXT) Strategy
Infinity Core Equity Approach
Large Cap
Infinity Core Approach
ACCUMULATOR
Nuvama Absolute Return Strategy
Debt — Medium-Long Duration
Pranav Parikh
Fund managerFund Manager – Private Markets
Pranav Parikh is the Fund Manager for Nuvama's private markets strategies, including the Nuvama Crossover Opportunities Fund III (and its series) and the Nuvama Crossover Yield Opportunities Fund (Category II AIFs). He manages late-stage private equity and venture debt strategies under the Nuvama Private Investment Trust and Nuvama Private Opportunities Trust.
Ajay Vora
Fund managerFund Manager – Listed Equity Alternatives
Ajay Vora is a Fund Manager for Nuvama's listed equity alternative strategies. He co-manages the Nuvama Enhanced Dynamic Growth Equity Fund (EDGE), Nuvama Multi Asset Strategy Return Fund, Nuvama Flexicap Equity Fund and Nuvama Dynamic Asset Allocator Fund — all Category III AIFs registered under the Nuvama Alternative Strategies Trust and Nuvama India Equity Strategies Trust.
Nikhil Ranka
Fund managerCIO – Equity Alternatives & Fund Manager
Nikhil Ranka is the Chief Investment Officer for Equity Alternatives at Nuvama Asset Management. He co-manages the Nuvama Enhanced Dynamic Growth Equity Fund (EDGE), Nuvama Multi Asset Strategy Return Fund, Nuvama Flexicap Equity Fund, Nuvama Dynamic Asset Allocator Fund (Category III AIFs), as well as Nuvama India Access LVF and Nuvama Transition Alpha LVF (Category II AIFs).
Roshan Jain
Fund managerFund Manager – Listed Equity Alternatives
Roshan Jain co-manages the Nuvama India Access LVF and Nuvama Transition Alpha LVF, Category II AIFs under the Nuvama Private Investment Trust.
Gaurav Gairola
Fund managerFund Manager – Venture Debt
Gaurav Gairola co-manages the Nuvama Crossover Yield Opportunities Fund, a Category II AIF under the Nuvama Private Opportunities Trust focused on venture-focused debt investments in high-growth companies.
Anshu Kapoor
President & Head, Nuvama Asset Management
Anshu Kapoor heads the Asset Management business at Nuvama, leading initiatives to create an alternatives assets platform spanning private equity and hedge funds. Anshu joined the Edelweiss Group in 2010 to start the private wealth business. Driven by a vision of creating 'the world's most customer-centric' wealth management business, he grew the business 15x in 7 years, reaching one of the top 3 positions in the industry. Prior to Edelweiss, Anshu was a Director at Merrill Lynch, where he was instrumental in developing the wealth management business across India, Middle East, Asia Pacific and North America. He has also worked in leadership positions in consumer banking and capital markets with HSBC and ICICI Bank.
Ashish Kehair
Managing Director & CEO, Nuvama Group
Ashish Kehair is the Managing Director and CEO of Nuvama Wealth Management Limited. He has been instrumental in shaping Nuvama Group's strategic direction and expansion, building a scaled and diversified wealth management platform serving affluent, HNI and UHNI families and individuals. He has spearheaded the development of the alternatives asset management franchise. Ashish has 27 years of experience spanning Private Banking, Wealth Management, Asset Management, and Treasury. He was previously Head of Wealth Management & Private Banking at IDFC First Bank, and has past associations with ICICI Securities, ICICI Bank and TAIB Bank E.C. He is a qualified Chartered Accountant & Cost Accountant.
Riyaz Marfatia
President & COO, Nuvama Group
Riyaz Marfatia is the President and Chief Operating Officer of Nuvama Wealth Management, responsible for Corporate Planning and Strategy, Business Planning, Investor Relations, Risk, Legal & Compliance, Admin, Internal Audit and Company Secretarial. He has close to two and a half decades of experience in banking and financial services. He has been with Edelweiss since 2014, initially leading the Advisory business in Private Wealth Management. Prior to Edelweiss, he was with HDFC Bank for over 15 years across asset products, capital markets, treasury, and private banking.
Bharat Kalsi
Chief Financial Officer & Head of Strategy, Nuvama Group
Bharat Kalsi is the Group CFO & Head of Strategy of Nuvama Wealth Management, leading all aspects of financial reporting, planning & analysis, tax management, treasury, investor relations, and corporate strategy. He has over 24 years of experience in finance, investments, corporate strategy and M&A across HCL, HSBC, Max, Tata and Bajaj group. His last assignment was as CFO at Bajaj Allianz Life Insurance. Bharat holds an MBA Finance and is a CFA & CPA.
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Shiv Sehgal
Executive Director & President, Nuvama Capital Markets
Shiv Sehgal is President and Head of Nuvama Capital Markets, providing leadership to one of India's largest capital market franchises across Institutional Equities and Asset Services. He has over two decades in investment management and financial services, the majority in emerging market funds across pan-Asia. Prior to Nuvama, he led Goldman Sachs' Institutional Sales Trading and Equity Capital Markets in India and was appointed to the Goldman Sachs India board. He is a CFA charterholder and holds a Masters in Banking and Finance from Griffith University, Brisbane.
Birendra Kumar
Chairperson & Independent Director
Mr. Birendra Kumar is the Independent Director and Chairperson of Nuvama Wealth Management Limited and an Independent Director on three material subsidiaries. He was Executive Director at Wisler Investment Management Private Limited (managing AIF for Blackstone Tactical Opportunities Singapore, Feb 2019–Mar 2025). He was Founder, MD & CEO of International Asset Reconstruction Company Private Limited (IARC) from March 2007 to August 2018. He retired as Deputy MD & Chief Credit Officer of State Bank of India in April 2002. He holds an MSc in Mathematics from St. Stephen's College, University of Delhi, and is a Certified Associate of the Indian Institute of Banking.
Kamlesh Shivji Vikamsey
Independent Director
Mr. Kamlesh Shivji Vikamsey has over 40 years of experience in auditing, taxation, corporate & personal advisory, business & management consulting, due diligence, valuations, inspections and investigations. He chaired Audit and Oversight Committees of international organisations in the United Nations and is a former President of the Institute of Chartered Accountants of India.
Anisha Motwani
Independent Director
Ms. Anisha Motwani is a multi-faceted business leader with over 35 years of experience across FMCG, automobiles, financial and health services. She served as a World Bank advisor on the Swachh Bharat Programme, Solar Rooftops and the National Mission for Clean Ganga. She founded Storm The Norm in 2015, specializing in Brand, Digital & Innovation. She has been voted one of the '50 Most Powerful Women in Indian Business' by Business Today for three consecutive years. She holds an MBA.
Nikhil Kumar Srivastava
Non-Executive Director (PAG Nominee)
Nikhil Kumar Srivastava is a Partner and Co-Head of Private Equity at PAG, one of Asia's largest alternative investment managers with USD 55 billion AUM. He joined PAG in April 2019 to start PAG's India office. Before PAG, he spent almost a decade at KKR evaluating and investing across India, Singapore and the United States. He also worked at Goldman Sachs and Inphi Corporation. He holds a B.Tech in EE from BITS Pilani, an MS in EE from Stanford University, and an MBA from Harvard Business School.
Aswin Vikram
Non-Executive Director (PAG Nominee)
Aswin Vikram has been with PAG since November 2019 and has been working in the private equity industry since 2011. He completed his B.Tech from IIT Madras in 2007 and his Post Graduate Diploma in Management from IIM Bangalore in 2009.
Sameer Kaji
Independent Director
Sameer Kaji is a seasoned business leader with over 35 years of experience in growth strategy, M&A, business transformation and corporate governance. He has held key leadership roles including Chairman & MD of RAS Propack Lamipack, Head of the Promoter Office at Adani Group, Interim CEO at Binani/Ultratech Cement, and Senior Advisor at McKinsey & Company and Edelweiss. He holds an MBA in Entrepreneurship and Finance from Babson F.W. Olin Graduate School of Business, Massachusetts.