India: Pension fund Ontario Teachers’ to invest $350m in Edelweiss arm

Photo: Reuters/Amit Dave

Canadian pension fund manager Ontario Teachers’ Pension Plan Board (OTPP) has agreed to invest $350 million ( 2,600 crore) in Edelweiss Alternate Asset Advisors (EAAA), the latter said on Wednesday.

The investment pact represents a long-term partnership between OTPP and the alternative investment platform of the Edelweiss Group, which will focus on performing and distressed credit investment opportunities in the Indian market, it added.

“The focus of the platform is on credit and yield products . We have four products under our alternatives platform – performing credit (corporate and real estate) distressed credit and infrastructure yield. We started this platform 10 years ago with our first performing credit fund Edelweiss Special Opportunities Fund, for which we had raised $230 million,” said Venkat Ramaswamy, vice chairman and executive director, Edelweiss Group. “Now, we have around $3.8 billion in assets under management including ESOF III commitments received recently,” he added.

OTPP is the third major global investor to tie up with Edelweiss’ alternatives investment business. Canadian pension fund CDPQ and European insurance giant Allianz are the other investors.

Ramaswamy said EAAA is likely to raise a new fund every year. The announcement follows the recent deal between Edelweiss and PE firm PAG, which infused 2,200 crore for a 51% stake in the Group’s wealth management business.

The article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.