The Competition Commission of India has approved the proposed combination involving investment of ~13% of the limited partnership interests by AIPCF VIII A-TE Funding L.P. in Perseus Parent L.P.

AIPCF VIII A-TE Funding L.P. (Acquirer) is a newly incorporated special purpose vehicle which will operate as an investment fund. As on date, the Acquirer does not have any investments or activities of its own.

The Acquirer belongs to the American Industrial Partners group (Acquirer Group), an operationally oriented private equity group which has investments in industrial businesses (e.g., transportation and logistics, metals and mining, and aerospace and defence) across global markets.

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

The proposed combination involves an investment by the Acquirer in the Target, through which the Acquirer will secure ~13% of the limited partnership interests in the Target (Proposed Combination).

Detailed order of the Commission will follow.

Competition approval: Acquisition of limited partnership interests cleared, enabling an investment fund to acquire minority stake in manufacturer. CCI approved a proposed combination in which AIPCF VIII A-TE Funding L.P., a newly incorporated special purpose vehicle of the American Industrial Partners group, will acquire approximately thirteen percent of the limited partnership interests in Perseus Parent L.P., a manufacturer, marketer and distributor of engine components for light vehicles, commercial trucks and off highway vehicles; the Acquirer has no current investments or activities and a detailed Commission order will follow.