Caisse de Depot et Placement du Quebec, Montreal, acquired a 27% stake in Hilco Global, a Northbrook, Ill.-based financial services firm, confirmed Cesaltine Gregorio, a spokeswoman for the C$309.5 billion ($232 billion) pension fund, in an email.
Financial terms of the deal were not disclosed.
Through the new partnership, CDPQ will support the continued growth of Hilco Global and help the firm target annual investments of about $150 million in distressed assets and other special situations.
Hilco Global's founder, Chairman and CEO Jeffrey B. Hecktman said in a release that the partnership is "a perfect fit for us both strategically and culturally."
Further, Mr. Hecktman said, "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."