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July 25, 2016

Goldman Sachs tops League Table for Financial Advisors to Private Equity Transactions in H1 2016

Morgan Stanley, Kotak claim the no.2 and no.3 slots; E&Y tops table inclusive of due diligence, other services 

Goldman Sachs claimed the top position in the Venture Intelligence League Table for Transaction Advisor to Private Equity deals for first half of the calendar 2016 acting as financial advisor to two qualifying PE investments worth $365 million during the period. Goldman Sachs was followed by Morgan Stanley ($230 million across one deal) and Kotak ($227 million across three deals).

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.

The PE transactions advised by Goldman Sachs included the $321 million investments by Fairbridge Capital in Bangalore International Airport and the $44 million investment in Healthcare Global by anchor investors IFC, Sabre Capital and others. Morgan Stanley advised the $230 million investment in clean energy producer Greenko Group by GIC and Abu Dhabi Investment Authority, while Kotak advised the $112 million stake sale by Warburg Pincus, IFC, ChrysCapital, Motilal Oswal and Kedaara Capital in NBFC firm AU Financiers to a clutch of public market investors and the $71 million investment by IFC and GIC in Bandhan Bank.

Inclusive of its roles in due diligence and related advisory activities, Ernst & Young topped the league table for transaction advisor for PE deals in H1 2016 advising deals with a value tag of $1,169 million (across a total of 17 deals). E&Y advised deals included the $85 million buyout of Western UP Tollway by I Squared Capital and the $30 million PE exit of Navis Capital from Classic Stripes in a deal which saw the promoters buying back the stake held by Navis Capital.

E&Y also topped the tables in terms of deal volume, followed by IndigoEdge ($14 million across five deals) which claimed the second spot, while Axis Capital ($183 million across four deals) and Spark Capital Advisors ($62 million across four deals) shared the third spot in terms of quantum of deals advised.

New entrants into the Venture Intelligence league table for transaction advisor to Private Equity during 2016 included The RainMaker Group, BDA Partners and Sparrow Advisory.

The full league tables can be viewed online at 

Venture Intelligence is India's longest serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India.