CPPIB & Allianz Acquire Interise Investment Managers: CCI Approves

New Delhi, Feb 6 (PTI) Fair trade regulator CCI on Tuesday said it has approved the proposal of purchasing stakes in Interise Investment Managers by various entities, including Canadian pension fund CPPIB and Allianz Group.

Interise Investment Managers is the investment manager of IndInfravit Trust. The trust is an Sebi-registered infrastructure investment trust.

"The proposed combination involves acquisition of 100 per cent of the issued and paid-up share capital of Interise Investment Managers by CPPIB India Private Holdings (CIPH), Allianz Infrastructure Luxembourg II (AIL-II), Ontario Inc from L&T Infrastructure Development Projects Ltd and certain other sellers," according to a release.

CIPH is a wholly-owned subsidiary of Canada Pension Plan Investment Board (CPPIB) and AIL – II is a Luxembourg-based alternative investment fund which is wholly-owned by Allianz SE. Ontario Inc is an investment entity of the Ontario Administration Corporation.

After the completion of the transaction, CIPH, AIL-II and Ontario Inc will respectively hold 50 per cent, 25 per cent and 25 per cent of the share capital of the Interise Investment Managers.

In another release, the Competition Commission of India (CCI) said it has cleared TPG Group's proposal to buy a stake in Shadowfax Technologies.

"NewQuest Asia Fund IV (Singapore) Pte (TPG NQ) proposes to acquire certain shareholding of SFX," CCI said in the release.

TPG NQ is part of a private equity fund TPG Group while Shadowfax Technologies is a crowd-sourced and tech-enabled logistics platform.