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Trilegal tops League Table for Legal Advisors to Private Equity deals in Q1 2021

AZB and CAM claim the No.2 & No.3 slots

Trilegal topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions in Q1 2021. Trilegal advised PE deals worth USD 6.5 Billion (across 6 qualifying deals) during the period. AZB & Partners (USD 4.4 Billion across 29 deals) and Cyril Amarchand Mangaldas (CAM) (USD 2.4 Billion across 22 deals) took the second and third spots. Khaitan & Co. (USD 2.1 Billion across 14 deals) and Shardhul Amarchand Mangaldas (SAM, USD 1.1 Billion across 8 deals) completed the top five.




Among the largest deals in the latest quarter, Trilegal advised Piramal Enterprises' acquisition of stressed mortgage lender DHFL for USD 5.2 Billion.

Cyril Amarchand Mangaldas, Khaitan & Co., Latham & Watkins, Nishith Desai Associates, Ropes & Gray, Skadden Arps Slate Meagher & Flom, Touchstone Partners, and Trilegal advised the RewNew Power SPAC merger deal worth USD 590 million.

S&R Associates advised SBI Cards and Payment Services in the exit made by Carlyle.

AZB advised Warburg Pincus’ exit from Bharti Telemedia worth USD 430 million.

SAM, Khaitan, and Trilegal advised Byju's USD 1 billion acquisition of Aakash Educational Services.

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




Among foreign firms, Latham & Watkins came on top having advised 2 deals worth USD 790 million. Ropes & Gray and Skadden Arps Slate Meagher & Flom came next (with USD 590 million). Rosenblatt & Company and Kirkland & Ellis came third (USD 250 million). Paul Weiss took the fourth spot (with $200 million) followed by Goodwin Procter ($82 million).

The full league table can be viewed online at https://www.ventureintelligence.com/leagues.php

By Deal Volume

Burgeon Law topped the tables in terms of deal volume having advised 37 deals during the Quarter. IndusLaw came second having advised 34 deals. This was followed by AZB with 29 deals. CAM took the fourth spot with 22 deals. Samvad Partners advised 20 deals in the fifth spot.

Among foreign firms, Gunderson Dettmer and Latham & Watkins topped the table in terms of deal volume with 2 deals each.





By Industry

Among PE transactions in Infrastructure (by value), Khaitan (USD 1.3 Billion across 3 deals) stood first followed by AZB & Partners (USD 1.2 Billion across 8). CAM (USD 968 million across 3 deals) took the third spot. By deal volume, AZB (8 deals) topped the table followed by Khaitan and CAM (3 deals each). Nishith Desai Associates advised 2 deals taking the third spot.

In the IT & ITeS industry (by value), AZB topped the table having advised deals worth USD 1.7 Billion followed by CAM, which advised deals worth USD 718 million. IndusLaw took the third spot with USD 685 million. Anoma Legal (USD 521 million) and Samvad Partners (USD 358 million) completed the top five. In terms of deal volume, Burgeon Law topped the table with 30 deals, followed by IndusLaw with 29 deals. Samvad Partners (14 deals), AZB (13 deals), and CAM (11 deals) took third, fourth, and fifth place respectively.

JSA topped (by value and volume) in Manufacturing advising 2 deals worth USD 455 million, followed by Kirkland & Ellis, CAM, Rosenblatt & Company, SAM, Juris Corp, and Khaitan & Co. advising 1 deal worth USD 250 million, while AZB took the third spot.

In Real Estate, Anoma Legal and AZB topped the table having advised 1  deal worth USD 156 million. They were followed by DSK Legal, which advised 1 deal worth USD 62 million.

Under the Financial Services industry, Trilegal topped the table by value having advising the USD 5.2 Billion Piramal-DHFL deal, followed by AZB which advised 3 deals worth USD 686 million. S&R Associates came third with USD 546 million across 1 deal. The fourth and fifth position were taken by Talwar Thakore & Associates and CAM.

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

About Venture Intelligence

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.

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