Thursday, 3 September 2020

Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”), Canada’s largest single-profession pension plan

Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”), Canada’s largest single-profession pension plan, and Edelweiss Group, India’s leading diversified financial services conglomerate, are pleased to  announce that Ontario Teachers’ has signed an agreement for an investment of USD 350 million (˜INR 2600 crores) with  Edelweiss Alternate Asset Advisors’ (“EAAA”), the largest private debt manager in India with assets under management of approximately USD 3 billion (˜INR 23,400 crores). The agreement represents a long-term partnership between Ontario Teachers’ and Edelweiss Group that will focus on performing and distressed private credit investment opportunities in the Indian market.
Key Highlights

• Ontario Teachers’ partners with Edelweiss Group, to invest in Indian Private Credit

• Investment of USD 350 million (~ INR 2600 crores) with Edelweiss Alternate Asset Advisors’ (“EAAA”)

• Partnership to focus on performing and distressed private credit investment opportunities in the Indian market

• Ontario Teachers is Canada’s largest single-profession pension plan

• EAAA is the largest private debt manager in India with assets under management of ~USD 3 billion (~INR 23,400 crores)

• Partnership is a strong endorsement of the Indian alternative asset management space as well as the robust and unique private debt platform built by EAAA

• “Edelweiss Groups proven track record and demonstrated ability to originate, underwrite, structure and realize on private credit investments in India has made them our preferred partner of choice” Gillian Brown, Senior Managing Director, Capital Markets at Ontario Teachers’

• “ Need for long term patient capital in India presents a huge opportunity for private debt managers” Rashesh Shah, Chairman Edelweiss Group

• “Important milestone in our ambition to build multi asset class exposure to India’s long-term growth story .” Ben Chan, Regional Managing Director, Asia Pacific at Ontario Teachers’

• “ Humbled by the faith that placed in our ability to manage credit investments and in our strong governance, especially at a time when overall global economic sentiment is subdued” Venkat Ramaswamy, Vice Chairman & Executive Director, Edelweiss Group

• EAAA’s global partners include Caisse de depot et placement du Quebec ( CDPQ ) and Allianz Investment management

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