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What is the story about?
Global private equity firm TPG on Monday announced it will acquire a 100% stake in Aseem Infrastructure Finance from the National Investment and Infrastructure Fund (NIIF) and other shareholders for an undisclosed sum.
TPG said it has partnered with Singapore's GIC and ICICI Bank for the investment, which will be made through its climate investing platform, TPG Rise Climate.
ICICI Bank will hold up to a 5% stake in Aseem Infrastructure following the transaction, according to an official statement.
Aseem Infrastructure was founded by the government-promoted National Investment and Infrastructure Fund (NIIF) and counts the Government of India and Japan's SMBC among its minority shareholders.
Over the last six years, the company has emerged as a leading sustainable infrastructure debt financier, with a core focus on renewable energy, power transmission and other infrastructure assets across India.
It has disbursed more than ₹40,000 crore in loans, financing over 27 GW of renewable energy projects and 2,000 km of power transmission projects, cumulatively helping abate 33 million tonnes of greenhouse gas emissions, the statement said.
Sanjeev Mehra, Partner at TPG Capital Asia, described Aseem Infrastructure as an early mover in the sustainable debt financing space that is uniquely positioned to address India's growing climate finance requirements.
"Aseem's growth journey reflects NIIF's ability to incubate and scale institutional-grade platforms, with strong profitability, governance and asset quality," said Nilesh Shrivastava, Partner, Growth Equity, NIIF.
TPG said it has partnered with Singapore's GIC and ICICI Bank for the investment, which will be made through its climate investing platform, TPG Rise Climate.
ICICI Bank will hold up to a 5% stake in Aseem Infrastructure following the transaction, according to an official statement.
Aseem Infrastructure was founded by the government-promoted National Investment and Infrastructure Fund (NIIF) and counts the Government of India and Japan's SMBC among its minority shareholders.
Over the last six years, the company has emerged as a leading sustainable infrastructure debt financier, with a core focus on renewable energy, power transmission and other infrastructure assets across India.
It has disbursed more than ₹40,000 crore in loans, financing over 27 GW of renewable energy projects and 2,000 km of power transmission projects, cumulatively helping abate 33 million tonnes of greenhouse gas emissions, the statement said.
Sanjeev Mehra, Partner at TPG Capital Asia, described Aseem Infrastructure as an early mover in the sustainable debt financing space that is uniquely positioned to address India's growing climate finance requirements.
"Aseem's growth journey reflects NIIF's ability to incubate and scale institutional-grade platforms, with strong profitability, governance and asset quality," said Nilesh Shrivastava, Partner, Growth Equity, NIIF.
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