Institutional investor La Caisse de dépôt et placement du Québec (CDPQ) acquired a minority stake in Hilco Global, an independent financial services company. Following the transaction, CDPQ will own 27% of Hilco Global.
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Through this new partnership, CDPQ will support the long-term strategy and continued growth of Hilco Global, a leading authority on asset valuation, monetization and advisory solutions across the world. Furthermore, CDPQ will target annual investments of approximately $150 million, alongside Hilco Global, in distressed assets and other special situations.
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Jeffrey B. Hecktman, Hilco founder, chairman and CEO, commented, “Our new partnership with CDPQ is a perfect fit for us both strategically and culturally. Management at CDPQ understands that our goal was to find a financial partner that would support our long-term growth plans. CDPQ will serve as a key strategic investor in the capital-intensive deals that will fuel our continued expansion into several sectors including real estate, intellectual property, account receivables, and commercial and industrial asset transactions with both healthy and distressed companies.”
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“Our investment is motivated by Hilco Global’s excellent reputation, track record, and strong management team,” said Stéphane Etroy, executive vice-president and head of Private Equity at CDPQ. “Hilco Global, whose role is to transition existing and often undervalued assets into profitable use, helps businesses to adopt new technologies and adjust to changing consumer habits. This is perfectly aligned with our long-term investment strategy.”
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Hilco Global is a diversified financial services company with more than twenty integrated business units located around the world and focused on three core corporate solution areas: valuation, monetization, and advisory services.
Caisse de dépôt et placement du Québec manages funds primarily for public and parapublic pension and insurance plans. As of December 31, 2018, it held C$309.5 billion in net assets.
