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Avendus tops League Table for Transaction Advisors to Private Equity deals in 2022

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Ernst & Young and JM Financial claim the No.2 & 3 slots

Avendus topped the Venture Intelligence League Table for Transaction Advisor to Private Equity Transactions in 2022 advising 34 deals worth $5.4 Billion. Ernst & Young stood second advising 11 deals worth $1.25 Billion. JM Financial followed with 3 deals worth $1.04 Billion. Ambit ($1 Billion across 14 deals) and Morgan Stanley ($810 million across 2 deals) completed the top five for 2022.

Avendus advised deals included Mobile Content and News aggregator Unicorn Dailyhunt’s $805 million fundraise from Sumeru Ventures, Luxor Capital, Ontario Teachers Pension Plan, Sofina, Baillie Gifford, and CPPIB. Ernst & Young advised the $775 million purchase of six toll road projects from Welspun Enterprises by Actis. Citi and JM Financial advised the $593 million acquisition of IDFC Asset Management Company by a consortium comprising Bandhan Financial Holdings Limited and private equity investors GIC and ChrysCapital.




Among the larger private equity deals in Q4 2022, Ambit acted as advisor to affordable housing finance Poonawalla Housing Finance’s $473 million fundraise from TPG Capital. Standard Chartered Bank advised the $400 million fund raise by clean energy solutions firm Serentica Renewables from KKR. Ernst & Young advised the $400 million fund raise by renewable energy company Sunsure Energy from Partners 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.





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

By Deal Volume

Avendus topped the tables in terms of deal volume having advised 34 deals during 2022. This was followed by Unitus Capital with 24 deals. DPNC Advisors took the third spot with 16 deals. Ambit and Veda Corporate Advisors took the fourth spot with 14 deals each. Boon Capital Advisors took the fifth spot with 12 deals.






By Industry (Excluding Due Diligence,Tax,Other Advisory Services)

Among PE transactions in the IT & ITeS industry (by value), Avendus ($4 Billion) stood first followed by Morgan Stanley ($810 Million). Ambit ($396 Million) and DC Advisory ($362 Million) took the third and fourth spots, respectively. Unitus Capital ($325 Million) completed the top five. By deal volume, Avendus (21 deals) topped the table, followed by Unitus Capital (14 deals) and DC Advisory (9 deals). 

Under the Financial Services industry (by value), JM Financial ($860 Million) stood first, followed by Citi ($593 Million). Axis Capital ($514 Million) took the third spot. By deal volume, Unitus Capital (8 deals) topped the table, followed by DPNC Advisors (4 deals). Avendus, Spark Capital Advisors, and Edelweiss Financial Services took the third spot with 3 deals each.

Under the Healthcare industry (by value), PwC ($324 Million) stood first, followed by Veda Corporate Advisors ($274 Million). Spark Capital Advisors ($250 Million) took the third spot. By deal volume, Veda Corporate Advisors (5 deals) topped the table, followed by Ernst & Young (4 deals). PwC, o3 Capital, and MGB Advisors took the third spot with 3 deals each.

Under the Agri-Business industry (by value), Transaction Square ($176 Million) stood first, followed by Avendus ($146 Million). Ambit ($25 Million) took the third spot. By deal volume, Avendus and Setuka Partners topped the table with 2 deals each.

Including Other Advisory Services

Inclusive of its roles in due diligence and related advisory activities, PwC topped the table, having advised 207 deals worth $22.8 Billion followed by Ernst & Young with 159 deals worth $22.4 Billion. Deloitte took the third spot advising 93 deals worth $8.2 Billion. KPMG stood fourth having advised 76 deals worth $6.2 Billion. They were followed by Avendus with 34 deals worth $5.4 Billion.




PwC topped the table by volume advising 207 deals. Ernst & Young took the second spot with 159 deals. The third spot went to Deloitte which advised 93 deals. KPMG and AVA Insights (76 deals each) completing the top five.



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

To showcase your firms' transactions in the 2023 League Tables, contact Vanathi at
deals@ventureintelligence.com.

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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