TPG-led consortium to acquire Aseem Infrastructure Finance
TPG has signed definitive agreements to acquire a 100% stake in Aseem Infrastructure Finance alongside co-investors GIC and ICICI Bank. The investment will be made through TPG Rise Climate, the firm’s dedicated climate investing platform, while ICICI Bank will retain up to a 5% stake in the company. The transaction remains subject to customary regulatory approvals and closing conditions.
Aseem Infrastructure Finance, headquartered in Mumbai, is a sustainable infrastructure debt financier focused on renewable energy, power transmission and other infrastructure assets in India. The company was established in 2020 by the National Investment and Infrastructure Fund (NIIF), which is currently its majority shareholder, while the Government of India and SMBC Japan are minority shareholders.
To date, Aseem has disbursed more than Rs 40,000 crore in loans across critical infrastructure sectors, financed over 27 GW of renewable energy projects and supported around 2,000 circuit kilometers of power transmission projects. According to the company, these investments have cumulatively helped abate around 33 million tonnes of greenhouse gas emissions.
“We are excited about our investment and look forward to partnering with the management team to be a catalyst through funding climate solutions that drive energy addition and resilience in India, in line with the Indian government’s target to reach 500 GW of renewable energy capacity by 2030,” said Sanjeev Mehra, Business Unit Partner at TPG Capital Asia.
“Aseem’s growth journey reflects NIIF’s ability to incubate and scale institutional-grade platforms, with strong profitability, governance and asset quality. This transaction underscores growing global investor confidence in India’s sustainable infrastructure and climate financing market. We look forward to Aseem’s continued growth under the stewardship of TPG, GIC and ICICI Bank,” said Nilesh Shrivastava, Partner, Growth Equity, NIIF.
ICICI Securities acted as financial advisor to Aseem and NIIF, while Shardul Amarchand Mangaldas served as legal advisor to NIIF. EY advised TPG and GIC financially, and Cyril Amarchand Mangaldas, Linklaters and Trilegal acted as legal advisors to TPG and GIC.
The featured photograph is for representation only.
