new delhi mar 5 canadas institutional fund manager cdpq will invest rs 1800 crore in a nonbanking financial company of edelweiss group cdpq private equity asia pte a wholly owned subsidiary of cdpq and edelweisss group signed an agreement for the investment of rs 1800 crore usd 250 million in ecl finance ltd ecl finance edelweiss said in statement tuesday cdpq will partner in the longterm strategy to build a strong credit portfolio with an increasing focus on the retail segment it said 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 said the statement the agreement with cdpq will enable ecl finance to capitalise on opportunities in the credit market and confirm the capability of the group to capture opportunities in the nbfc space 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 it added credit penetration in india will be the key to advancing indias economic gains driven by longterm trends in democratisation of credit rising household incomes and increased consumption i expect this partnership to deliver tremendous value towards deepening the market said rashesh shah chairman and chief executive officer of edelweiss group edelweiss group said it has built a significant competitive position across businesses including the credit segment with a credit book of around rs 30000 crore that is spread across wholesale and retail finance segments the business has both robust size and scalability michael sabia president and ceo of cdpq said this new investment capitalises on solid growth in the financing demand from small and medium enterprises smes and residential sectors both of which being key drivers in sustaining indias future growth the cdpq partnership with the edelweiss group began in 2016 with a significant investment in edelweiss arc indias largest asset reconstruction company the company said further deepak mittal md ceo of ecl finance said credit has been our strength and we are well positioned to capitalise on the india opportunity our competitive edge will come from investments in the direct technology platform and next generation data analytics as we scale across sme affordable housing agriloans and rural finance kpm kpm hrs