CDPQ Private Equity Asia, a wholly owned subsidiary of Caisse de depot et placement du Quebec (CDPQ), one of North America’s largest pension fund managers, has signed an agreement to invest over Rs 1,800 crore in ECL Finance, the non-banking financial company (NBFC) subsidiary of Edelweiss Group.
The planned investment by CDPQ would contribute towards establishing a large and diversified credit platform in India. This proposed investment will close after customary regulatory approvals. The agreement with CDPQ will enable ECL Finance to capitalize on opportunities in the credit market and confirm the capability of the Group to capture opportunities in the NBFC space. It provides thrust to the business for technology and digital investments. This investment also ensures that ECL Finance has the requisite resources to maintain strong organic growth, as well as take advantage of any market consolidation opportunities.
Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments - agency business and holding company activities.
