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AZB & Partners tops League Table for Legal Advisors to Private Equity deals in H1'21

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

AZB & Partners (AZB) topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions in H1 2021 advising deals worth USD 17.5 Billion (across 81 qualifying deals). Cyril Amarchand Mangaldas (CAM) with USD 11.8 Billion across 51 deals and Trilegal with USD 9.2 Billion across 18 deals, took the second and third spots. Khaitan & Co. (USD 6.6 Billion across 42 deals) and IndusLaw (USD 4.4 Billion across 73 deals) completed the top five.




Among the largest deals in the latest quarter, AZB, Shardul Amarchand Mangaldas (SAM), Kirkland & Ellis, and Wilson Sonsini Goodrich & Rosati advised global private equity firm Apax Partners’ USD 900 million buyout of IT Services provider Infogain.

AZB, CAM, Trilegal, IndusLaw, SAM, Rajaram Legal, Veritas Legal, and L&L Partners advised food delivery unicorn Swiggy’s USD 800 million fundraise from Falcon Edge Capital, Prosus Ventures (formerly Naspers), Qatar Investment Authority, Accel India, GIC, Amansa Capital, Think Investments, Wellington Management, and others.

Khaitan & Co. and S&R Associates advised Blackstone’s USD 715 million acquisition of Embassy Industrial Parks from Warburg Pincus and Embassy Group.

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, Kirkland & Ellis came on top having advised 2 deals worth USD 1.2 Billion. Skadden Arps Slate Meagher & Flom took the second spot having advised 2 deals worth USD 1.1 Billion. Wilson Sonsini Goodrich & Rosati came third with 1 deal worth USD 900 million. Latham & Watkins (2 deals worth USD 790 million) and Gunderson Dettmer (5 deals worth USD 604 million) completed the top five.

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

By Deal Volume

AZB topped the tables in terms of deal volume having advised 81 deals during the first half of the year. Burgeon Law took the second spot with 78 deals, followed by IndusLaw with 73 deals. CAM took the fourth spot with 51 deals and Samvad Partners completed the top five with 48 deals.

Among foreign firms, Gunderson Dettmer topped the table in terms of deal volume having advised 5 deals and Goodwin Procter took the second spot with 3 deals.




By Industry

Among PE transactions in the IT & ITeS industry (by value), AZB (USD 6.1 Billion) stood first followed by IndusLaw (USD 3.6 Billion). CAM (USD 2.5 Billion) and Khaitan (USD 2.46 Billion) took the third and fourth spots respectively. By deal volume, IndusLaw (62 deals) topped the table followed by Burgeon Law (56 deals) and AZB (38 deals).

Under the BFSI industry (by value), AZB topped the table having advised USD 6.08 Billion worth of deals followed by CAM with deals worth USD 6.06 Billion. Trilegal took the third spot having advised deals worth USD 5.2 Billion. S&R Associates (USD 546 million) and Talwar Thakore & Associates (USD 380 million) took the fourth and fifth spots respectively. In terms of deal volume, AZB topped the table with 10 deals, followed by CAM with 4 deals. Khaitan, Wadia Ghandy & Co., and Antares Legal came third with 2 deals each.

AZB topped (by value and volume) in the Energy industry having advised 4 deals worth USD 1.4 Billion, followed by Khaitan with 3 deals worth USD 1 Billion. CAM took the third spot with 2 deals worth USD 715 million.

Under the Healthcare industry, Trilegal topped the table (by value) having advised deals worth USD 812 million. They were followed by CAM (USD 611 million) and Khaitan (USD 450 million) in the second and third sports. In terms of deal volume, CAM and Khaitan took the top spot with 5 deals each, followed by Trilegal and Burgeon Law with 4 deals each.

Under the Education industry, Trilegal topped the table by value having advised deals worth USD 852 million, followed by Khaitan with deals worth USD 839 million. SAM came third with deals worth USD 473 million, followed by CAM and AZB with deals worth USD 460 million. In terms of deal volume, SAM and Samvad Partners topped the table with 4 deals each, followed by Trilegal, Khaitan, and Algo Legal with 3 deals each.

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

To showcase your firms' transactions in the 2021 League Tables, mail Vanathi at
deals@ventureintelligence.com.

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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