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Ontario Teachers' Pension Plan Board, Canada's largest single‐profession pension plan, has signed an agreement for an investment of $350 million (Rs 2600 crore) with Edelweiss Alternate Asset Advisors (EAAA), the largest private debt manager in India with assets under management of approximately $3 billion (Rs 23,400 crore).
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.
Confirming the partnership, Gillian Brown, senior managing director, Capital Markets at Ontario Teachers'said, "We are pleased to enter into a long‐term partnership with Edelweiss Group, which has a proven track record and demonstrated ability to originate, underwrite, structure and realize on private credit investments in India."
Edelweiss Financial Services is engaged in providing investment banking and advisory services, and holding activities/investments. The company's segments include agency business, capital-based business and life insurance.
The company reported consolidated net loss of Rs 263.67 crore in Q1 June 2020 as against net profit of Rs 134.49 crore in Q1 June 2019. Total income slumped 25.7% to Rs 1,919.68 crore in Q1 June 2020 over Q1 June 2019.
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