New Delhi, The Competition Commission of India (CCI) on Tuesday approved German asset manager DWS Group‘s proposal to acquire a stake in Nippon Life India AIF Management Ltd.
Nippon Life India AIF Management Ltd (NIAIF), a subsidiary of Nippon Life India Asset Management Ltd (NAMI), is engaged in alternative asset management and acts as an investment manager and/or sponsor to Sebi-registered Alternative Investment Funds.
CCI said it has approved the proposed deal.
It is also registered with Sebi as a co-investment portfolio manager, while Frankfurt-based DWS Group GmbH & Co. KGaA is an asset manager with global reach.
“CCI approves the proposed combination involving the acquisition of certain shareholding in Nippon Life India AIF Management Limited by DWS Group GmbH & Co. KGaA,” the competition watchdog said in a post on X.
In March this year, DWS announced signing agreements to acquire a 40 per cent equity stake in NIAIF through subscription to newly issued shares, making it a minority shareholder and strategic partner in the company.
NIAIF is currently in an early growth phase and has built a portfolio spanning private credit, listed equities, real estate and venture capital.
According to DWS, the partnership will combine NAMI’s investment expertise in India with DWS’s global reach and product capabilities.
In a separate deal, CCI also cleared the proposed combination involving the acquisition of shareholding of seven SPVs by Anantam Highways Trust (InvIT) and issuance of units of the InvIT to Build India Infrastructure Fund, Dilip Buildcon Ltd and DBL Infraventures Pvt Ltd.
Bhopal-based Dilip Buildcon Ltd (DBL) is an engineering, procurement, and construction and operation & maintenance company, while DBL Infraventures is its wholly-owned subsidiary.
“CCI approves the proposed combination involving the acquisition of shareholding of seven SPVs by Anantam Highways Trust (InvIT) and issuance of units of the InvIT to Build India Infrastructure Fund, Dilip Buildcon Ltd and DBL Infraventures Pvt Ltd,” the regulator said on X.
In another deal, the Competition watchdog CCI approved the acquisition of certain shares in Krazybee Services Ltd and Finnovation Tech Solutions Pvt Ltd by Mars Equity Dragon Fund VCC.
Mars Equity Dragon Fund VCC is an investment fund wholly managed by Mars Equity M C Pte Ltd, a holder of a Capital Markets Services Licence in Singapore. The latter is a wholly-owned subsidiary of MUFG Bank, Ltd, a part of Japan’s Mitsubishi UFJ Financial Group, Inc.
Krazybee is an RBI-registered non-deposit taking Non-Banking Financial Institution.
Finnovation is the technology company which owns and operates the KreditBee app, through which customers can avail loans and access payment services like Unified Payments Interface.
It also acts as a technology provider and sourcing partner for Krazybee and other co-lending partners.
