CCI Approves TPG Acquisition of Aseem Infrastructure Finance
The proposed combination involves TPG Nicobar acquiring 100% of the share capital of Aseem Infrastructure Finance, followed by the acquisition of a 5% stake in Aseem by ICICI Bank from Nicobar. The acquisition by Nicobar will be funded by TPG Rise Climate GSI SF Pte. Ltd. and Clydo Investments Pte. Ltd.
As part of the transaction, Aseem will also divest its entire 30.83% stake in NIIF Infrastructure Finance Limited (IFL) to National Investment and Infrastructure Fund II, acting through its investment manager, National Investment and Infrastructure Fund Limited.
Following the completion of the Aseem acquisition, Nicobar intends to merge its subsidiary Climate Finance India Private Limited (CFIPL) into Aseem, with Aseem continuing as the surviving entity.
Aseem Infrastructure Finance is a Reserve Bank of India-registered non-deposit-taking NBFC-Infrastructure Finance Company (NBFC-IFC), primarily engaged in providing loans and lending services to companies in the infrastructure sector.
TPG Nicobar is a special purpose vehicle ultimately owned by TPG Inc. through TPG Rise and Clydo Investments. TPG invests across asset classes including private equity, real estate and public market strategies.
NIIF Infrastructure Finance Limited is a non-deposit-taking NBFC Infrastructure Debt Fund (NBFC-IDF), while NIIF II is a Category-II Alternative Investment Fund registered with the Securities and Exchange Board of India.
CFIPL, a subsidiary of Nicobar in India, is an RBI-registered non-deposit-taking NBFC-Investment and Credit Company (NBFC-ICC).
Published on:
02 September 2026
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