AZB & Partners topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions in 2019. AZB advised PE deals worth $16 Billion (across 106 qualifying deals) during the year. Cyril Amarchand Mangaldas (CAM) ($12.5 Billion across 75 deals) and Shardul Amarchand Mangaldas (SAM) ($9.9 Billion across 64 deals) took the second and third spot. Khaitan & Co. ($5.7 Billion across 82 deals) and Trilegal ($3.9 Billion across 34 deals) completed the top five.
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 2019 edition saw 100 legal advisors and 82 financial advisors participating. New entrants to the League Tables include Burgeon Law, Saakshya Law, Pioneer Legal, Joyce Law and many more.
Among the top deals, AZB and CAM advised Brookfield's $3.7 Billion acquisition of Reliance Industries' Tower Infrastructure Trust and GVK Airport Holdings’ $1.1 Billion fund raise from ADIA, PSP Investments and NIIF. AZB and SAM advised Brookfield's $1.9 Billion buyout of Pipeline Infrastructure from Reliance Industries.
Among the largest deals in the latest quarter, CAM and S&R Associates advised PayTM’s $1 Billion fund raise led by T Rowe Price. SAM and Veritas Legal advised Brookfield's acquisition of multiple assets of Hotel Leela which paved the way for Brookfield's entry into the Indian hospitality space.
Among foreign firms, Simpson Thacher & Bartlett came on top advising 4 deals worth $1.2 Billion. Ropes & Gray came in second advising 3 deals worth $574 million. Kirkland & Ellis came in third advising 2 deals worth $540 million.
The full league table can be viewed online at https://www.ventureintelligence.com/leagues.php
By Deal Volume
AZB also topped the tables in terms of deal volume advising 106 deals during the year. New entrant to the league table, Burgeon Law came in second place with 83 deals. Khaitan & Co. occupied the third spot with 82 deals. CAM (75 deals) and SAM (64 deals) completed the top five.
Among foreign firms, Goodwin Procter topped the table in terms of deal volume advising 9 deals during the period followed by Gunderson Dettmer with 6 deals. The third spot was taken by Simpson Thacher & Bartlett, advising 4 deals.
By Industry
Among PE transactions in IT & ITeS (by value), SAM ($4 Billion) stood first followed by AZB ($2.4 Billion). With $2.3 Billion, Khaitan took the third spot. CAM ($2.1 Billion) and S&R Associates ($1.4 Billion) came in at fourth and fifth place respectively.
By deal volume, Burgeon Law stood first with 57 deals followed by AZB and Khaitan with 35 deals each in second place. Samvad Partners and Anoma Legal stood third with 33 deals each. SAM (27 deals) and CAM (26 deals) completed the top five.
AZB topped in Infrastructure, advising deals worth $8.5 Billion, followed by CAM ($6 Billion) and SAM ($3 Billion). L&L Partners ($1.7 Billion) came in fourth, followed by J Sagar Associates ($785 million) in fifth place. AZB (with 17 deals) also topped by deal volume, followed by CAM with 7 deals. The third spot was taken by Khaitan and SAM with 6 deals each.
In Financial Services, AZB topped the table with $2.8 Billion, followed by CAM (with $2.3 Billion). Khaitan came in third ($1.3 Billion) followed by Trilegal ($1.1 Billion)and SAM ($989 million) in fourth and fifth spot respectively.
AZB also topped in Healthcare & Life Sciences advising deals worth $539 million, followed by SAM ($463 million) in second place and Khaitan ($308 million) in third place. Veritas Legal ($220 million) and Bharucha & Partners ($212 million) occupied the fourth and fifth place.
In Real Estate, CAM topped with $981 million, followed by AZB with $842 million. JSA took the third spot advising deals worth $560 million. Economics Laws Practice, Kirkland & Ellis, and Simpson Thacher & Bartlett shared the fourth spot with $340 million.
The full league table can be viewed online at https://www.ventureintelligence.com/leagues.php
To showcase your firms' transactions in the 2020 League Tables, mail Vanathi 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.