The Competition Commission of India (CCI) has approved a proposed combination involving Amundi Asset Management S.A.S. (Acquirer) and ICG Plc (Target). This combination involves the Acquirer's acquisition of 4.64% of the Target's voting share capital through on-market purchase, including the right to nominate a director, and subsequent subscription by the Acquirer to non-voting instruments representing up to 5.26% of the Target's capital. The Acquirer is a French joint-stock asset management company that offers savings and investment solutions. It indirectly has presence in India through SBI Funds Management Limited. The Target is an alternative asset management company engaged across five asset classes globally. The release ID is 2227272, with a visitor counter of 87. Posted on February 12, 2026, at 8:19 PM by PIB Delhi.
Key Entities Referenced
Competition Commission of India: The primary regulator involved in approving the proposed combination.
Amundi Asset Management S.A.S.: The Acquirer in the proposed combination.
ICG Plc: The Target in the proposed combination.
Competition Commission of India
CCI approves proposed combination involving
Amundi Asset Management S.A.S. (Acquirer) and
ICG Plc (Target)
Posted On: 12 FEB 2026 8:19PM by PIB Delhi
The Competition Commission of India has approved the proposed combination involving Amundi Asset
Management S.A.S. (Acquirer) and ICG Plc (Target).
The Proposed Combination involves, inter alia, acquisition by the Acquirer of 4.64% of the voting share
capital of the Target through on-market purchase, along with a right to nominate a director to the board of
the Target, and subsequent subscription by the Acquirer to non-voting instruments representing up to
5.26% of the Target’s capital.
The Acquirer is a French joint-stock asset management company, which offers its retail, institutional, and
corporate clients a complete range of savings and investment solutions in active and passive management,
across traditional and real assets.
The Acquirer does not have any direct presence in India. It is indirectly present through a minority joint
venture, SBI Funds Management Limited, which is engaged in the provision of asset management
services, including mutual fund products, international investor solutions, exchange-traded funds
management services, portfolio management services, and operates alternative investment funds in India.
The Target is an alternative asset management company, and is engaged across five asset classes globally,
i.e., (i) structured capital solutions to private companies, (ii) investments in private equity assets, (iii) real
assets, (iv) private debt, and (v) investments in primary and secondary credit markets.
Detailed order of the Commission will follow.
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NB/ONP
(Release ID: 2227272) Visitor Counter : 87