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Ivanhoé Cambridge Parent Takes 27% Stake in Hilco
Fund manager La Caisse de dépôt et placement du Québec (CDPQ), the parent organization of Ivanhoé Cambridge, has acquired a minority stake in Hilco Global for an undisclosed sum. CDPQ will own 27% of Hilco following the transaction.
Through the new partnership, CDPQ will support the long-term strategy and continued growth of Hilco Global, which is headquartered in Northbrook, IL with several operations based in downtown Chicago.
Additionally, CDPQ will target annual investments of approximately US$150 million, alongside Hilco Global, in distressed assets and other special situations.
“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,” said Hilco chairman Jeffrey B. Hecktman.
At CDPQ, EVP Stéphane Etroy said the partnership was “perfectly aligned with our long-term investment strategy.”
Pictured: Hilco offices at 401 N. Michigan Ave.
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