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The Competition Commission of India (CCI) has approved a proposed investment wherein AIPCF VIII A-TE Funding L.P. will acquire approximately 13 per cent of the limited partnership interests in Perseus Parent L.P.

AIPCF VIII A-TE Funding L.P. (the Acquirer) is a newly incorporated special purpose vehicle that will operate as an investment fund. At present, it has no existing investments or independent activities. The Acquirer is part of the American Industrial Partners group, a private equity firm with a strong focus on operationally oriented investments in sectors such as transportation, logistics, aerospace, defence, and metals across global markets.

Perseus Parent L.P. (the Target) is engaged in the manufacturing, marketing, and distribution of engine components used in light vehicles, commercial trucks, and off-highway vehicles.

The proposed transaction involves the acquisition of around 13 per cent of limited partnership interests in the Target by the Acquirer. This will provide the American Industrial Partners-backed vehicle with a minority interest in the automotive component manufacturer.

Further details of the Commission鈥檚 order will be issued in due course.