Ontario Teachers Pension Plan to invest USD 350 million in Edelweiss Group

Canada’s largest single profession pension plan, Ontario Teachers’ Pension Plan Board, and India’s leading diversified financial services conglomerate, Edelweiss Group signed an agreement to invest USD 350 million (approx. Rs 2,600 crore) with Edelweiss  Alternate  Asset Advisors’ (EAAA) on Wednesday.

The contract between Ontario Teachers’ Pension Plan and Edelweiss Group is a long-term partnership, focussing on performing and distressed private credit investment opportunities in the Indian markets. The infusion of long-term patient capital acts as an opportunity for private debt managers.

EAAA is the largest Indian private debt platform and is a part of the Edelweiss asset management business, which manages customer assets, aggregating to approximately Rs 1 lakh crore across alternatives, mutual funds, and distressed assets.

Last week, PAG (formerly known as Pacific Alliance Group), Asia's leading investment firms acquired a stake of 51 per cent in Edelweiss Group’s wealth management business for Rs 2,244 crore.

At 11.20 am on Thursday, the share of Edelweiss Financial Services gained 4.01 per cent and was trading at Rs 80.50 on BSE. In comparison, S&P BSE Finance index was trading 0.10 per cent lower. The share touched its upper circuit of 81.25 in the early trading session on BSE.