Cyril Amarchand Mangaldas (CAM), Trilegal, and Shardul Amarchand Mangaldas (SAM) advised on TPG Rise Climate’s acquisition of Aseem Infrastructure Finance Limited.

Aseem Infrastructure Finance Limited (“AIFL”), a leading sustainable infrastructure debt financier focused on renewable energy, power transmission and other infrastructure assets in India, has been acquired by TPG Nicobar SG Pte., a subsidiary of TPG Rise Climate, TPG’s dedicated climate investing platform.

The transaction involved the acquisition of 100% shareholding of AIFL from its existing shareholders by TPG Nicobar SG Pte. And the sale of AIFL’s 30.83% shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II (“NIIF II”).

The transaction forms part of TPG’s Global South Initiative, which aims to scale climate solutions across emerging markets and strengthens TPG’s presence in India’s infrastructure financing sector, with a focus on green energy and climate finance. The transaction remains subject to customary regulatory approvals and closing conditions.

Cyril Amarchand Mangaldas advised TPG on its acquisition of 100% of the share capital of Aseem Infrastructure Finance Limited from its existing shareholders, including National Investment and Infrastructure Fund II, Sumitomo Mitsui Banking Corporation, and the Government of India.

The transaction team was led by Senior Partner Iqbal Khan and Partner Ashid Basheer, with assistance from Principal Associates Pranav Tolani and Subbalaxmi S; Senior Associate Shreya Mukherjee; and Associates Gunjan Singh, Ishaan Kulshrestha and Sanjana Reddy.

Senior Partner L. Viswanathan provided strategic inputs.

Partners Pranav Sharma and Jian Johnson, with assistance from Principal Associate Sukriti Sarwan; Senior Associate Shobhit Dave; Associates Yusuf Kathawala, Eesha Tirodkar, Medha Puvvala, Kruttika Lokesh, Naomi Manoj, Prakhar Khandal and Aswath Srinivasan, advised on regulatory and finance aspects.

Partner (Head – Competition) Avaantika Kakkar, with assistance from Senior Consultant Anshul Jain; Senior Associates Vanya Agarwal and Pushkar Singh; and Associates Kartik Mishra and Arundhati Rajput, advised on competition aspects.

Trilegal advised Aseem Infrastructure Finance Limited on the transaction, including the 100% sale of its shareholding from its existing shareholders to TPG Nicobar SG Pte. And the divestment of AIFL’s 30.83% shareholding in NIIF Infrastructure Finance Limited to NIIF II.

The Trilegal Corporate Practice Team advising on the mandate was led by Partners Kunal Chandra and Tanya Nanda, with support from Senior Associate Mayank Jain.

The Trilegal Competition Practice Team advising on the mandate was led by Partner Gautam Chawla, with support from Counsel Ankush Walia.

Shardul Amarchand Mangaldas & Co. Advised National Investment and Infrastructure Fund’s Strategic Opportunities Fund (“NIIF SOF”) on its exit from Aseem Infrastructure Finance Limited as part of the acquisition of 100% shareholding of AIFL by TPG Rise Climate Fund and its partners.

The SAM transaction team was led by Partners Manav Nagaraj and Bhargava K.S., and comprised Senior Associate Swapna Easwaramoorthy.

The Competition team was led by Partners Rohan Arora and Supritha Prodaturi, and comprised Senior Associate Vasudha Verma; Associates Parinita Kare and Rohan Dembani.

The Banking & Finance team was led by Partner Zubin Mehta, and comprised Senior Associate Shubhra Baghel.