Caisse de depot et placement du Quebec (CDPQ), one of North America's largest pension fund managers, today announced a long-term partnership agreement with Edelweiss Group, a leading diversified financial services company in India. The agreement includes target investments by CDPQ of Rs 50 billion over four years that will provide Edelweiss Group with capital to invest in stressed assets and private debt opportunities in India.

The partnership creates one of the largest and most diversified credit investing platforms in India. With over five decades of experience in managing public funds, CDPQ joins hands with Edelweiss Group, which has significant experience and expertise in specialized corporate credit and is a leader in stressed asset investment.

This platform will invest in assets with the aim of restructuring debt and turning around companies, as well as becoming the provider of financing to Indian entrepreneurs and companies. These investments, to be carried out by Edelweiss ARC and through different Edelweiss funds, will result in the purchase of nonperforming loans from Indian banks and investments in private debt of growing Indian companies.

To this end, Edelweiss recently established a consulting team to add value and make operational improvements in promising industrial businesses with a focus on Remake in India.

Rashesh Shah, chairman & CEO, Edelweiss Group said, ''Recent reforms, like the Bankruptcy Act have the potential to transform the pace of reconstruction and resolution in India's stressed and distressed  market thus creating a much larger opportunity. We are pleased to partner with CDPQ, one of the largest and most respected pension fund management companies in the world, to help finance, restructure and grow financially viable businesses in India.''

Shares of the company gained Rs 8.5, or 7.51%, to trade at  Rs 121.75.  The total volume of shares traded  was  745,922 at the BSE (11.59 a.m., Monday).