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CDPQ becomes 20% owner in Edelweiss ARC

Caisse de depôt et placement du Quebec (CDPQ) is one of North America's largest pension fund managers

After Canada Pension Plan, CDPQ looks to open office in India
BS Reporter Mumbai
1 min read Last Updated : Sep 07 2021 | 3:49 PM IST
CDPQ Private Equity Asia , part of Canada''s pension fund CDPQ,  has become one of the sponsors of  Edelweiss Asset Reconstruction Company Limited (EARC), with 20 per cent of equity share capital of the company , Edelweiss said today.

This is post the conversion of 33.2 million compulsorily convertible preference shares  (CCPS) held by CDPQ into 52.6million equity shares of Rs. 10 each of the company, valued at of ~Rs. 97.25 each, on receipt of approval from RBI, it said 
 
R. K. Bansal, MD & CEO of Edelweiss ARC, said: “CDPQ has been a long- term partner in Edelweiss ARC and we are pleased that they will now be a sponsor and enhance their long-term commitment and actively participate in the growth of this sector as a shareholder of EARC.”

Caisse de dépôt et placement du Québec (CDPQ), one of North America’s largest pension fund managers, entered into a long-term partnership agreement with Edelweiss Group in October 2016. CDPQ invested to acquire a 20% equity stake in Edelweiss Asset Reconstruction Company (EARC).

Topics :pension fundCanada Pension FundEdelweiss

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