Private Equity

Private Equity Practice in Trilegal

Trilegal offers a wide-ranging and comprehensive service to our global and Indian private equity clients. We are committed to delivering client-centric, solution-oriented and strategic advice, often enabling our clients to achieve their investment objectives.

Our partners are known for their hands-on and innovative advice, developing a reputation as strategic advisors for private equity clients for their high-value and complex deals. We are seen as key and credible partners for deals involving complex structures and high stakes. Our ability to draw from our experience to align deal-making with the client’s investment objectives provides a sizable advantage to our clients.

Trilegal provides end-to-end private equity expertise ranging from fund formation and structuring, due diligence, capital deployment, fund financing, ongoing regulatory compliances, investment restructurings, to exits. Our expertise involves control as well as minority investments, both in the private and public M&A space.

Our practice extends to our sovereign wealth fund and family office clients, who are increasingly active in the same deal space and benefit from our experience with core sponsor clients.

We have advised clients on their investments in virtually all sectors, including technology and tech-enabled businesses, financial services, consumer and welfare, infrastructure, healthcare and life sciences, and manufacturing. Our specialised practices, and our ability to seamlessly integrate such practices to provide comprehensive advice, makes us uniquely placed to cater to the growing needs of our clients in deal evaluation and post-investment management.

We have also become trusted advisors for portfolio companies of our private equity clients, often advising on bolt-on acquisitions and compliance matters.

Trilegal’s practice has consistently evolved with the dynamic nature of the private equity landscape catering to a wide range of sophisticated clientele on a variety of deal types.

Our Services

Fund Formation & Structuring

We have a dedicated and market-leading team of asset management and funds lawyers, who assist clients in fund formation by advising on optimal structures. Details of our asset management and funds practice can be found here.  

Legal Due Diligence

Our legal due diligence process sets us apart as we seamlessly integrate our specialised practices to assess the legal issues, and provide practical solution-oriented findings to our clients. Our aim is not only to aid our clients in identifying risks, but also to help in strategic decision-making.

Investment Documentation

We provide support throughout the investment process, including drafting and negotiating investment agreements, such as share subscription, share purchase agreements, and shareholder agreements. Our goal is to ensure that documents are structured efficiently to protect our clients’ interests, while also keeping with market trends and practical considerations. Our lawyers understand that the market has moved on from a one size fits all approach on documentation, and each client has a unique set of objectives to meet.

PIPE

We advise on acquisitions and exits involving listed companies. Private equity clients are increasingly being exposed to listed companies, an area which we recognise requires increased specialisation. We have built expertise in advising on takeovers, mergers, demergers and restructurings, and delistings, in addition to advising our clients on disclosures and governance.

Regulatory Compliance

We recognise that India has a dynamic regulatory environment, and some of our regulators, such as SEBI, RBI and CCI, play a crucial role in private equity deals. We help our clients in evaluating structures to navigate India’s complex regulatory landscape, while enabling our clients to achieve their commercial needs. This involves guiding our clients on structuring of deals, solving complications as part of the deal process as well as addressing issues post-investment.

Portfolio Management

We partner with our clients on post-deal aspects as well. Our ability to seamlessly work across our specialised practice areas to deliver a combined workforce for portfolio company situations is especially appreciated by our private equity clients. Our specialised practices have contributed immensely to troubleshoot on behalf of our clients, including addressing governance issues, regulatory non-compliances and environmental incidents, to name a few.

Exit Strategies

We assist private equity investors in executing successful exits across diverse routes -trade sales, secondary transactions, IPOs and mergers, and promoter buy-backs. Our role spans deal structuring, regulatory and tax advisory, and negotiation support to optimise timing, compliance, and returns.

Private Equity Recognition

• Ranked in Band 1 for Private Equity by Chambers & Partners, Asia Pacific, 2020 – 2025

• Ranked in Tier 1 for Private Equity and Investment Funds by Legal 500 Asia Pacific, 2020-2025

• Ranked as Outstanding for Private Equity by Asialaw Profiles, 2020-2024

• Ranked in Tier 1 for Corporate M&A and Private Equity by IFLR 1000, 2020-2024

Select Representative Experience/Clients

1. Advised Blackstone on multiple deals, including QCIL–Aster DM merger, acquisition of Quality Care, KIMS Hospitals, ASK Group, Essel Propack and AirTrunk.

2. Advised Carlyle on multiple deals, including acquisition of Roop Automotives, VLCC Healthcare, Varmora Granito and Quest Global.

3. Advised Ontario Teachers’ Pension Plan on multiple transactions, acquisition of and subsequent sale of Sahyadri Hospitals, investment in Highways Infrastructure Trust and Mumbai International Airport.

4. Advised Prosus on multiple investments, including in API Holdings (PharmEasy), Good Glamm Group, Vastu Housing Finance and Bluestone Jewellery, as well as the reverse merger of Meesho Inc.

5. Advised Manipal Hospitals and its promoters on Temasek’s acquisition of a substantial stake, with exits for TPG and NIIF.

6. Advised Premji Invest on investments in Home Credit India, TVS Credit Services, S.B. Packagings and Shubham Housing.

7. Advised KKR on acquisition of Sindicatum Solar Energy, Universal Saur Urja and PLG Photovoltaic.

8. Advised Brookfield on multiple transactions, including investment in Cleanmax, Jindal Poly Films and Avaada Ventures, and joint venture with Axis Energy.

9. Advised Actis on sale of Solenergi Power and Ostro Renewables and acquisition of power projects of Shapoorji Pallonji Group.

10. Advised Apax Partners on its acquisition of Blackstone’s stake in IBS Software.

Representative Clients

Our Partners

• 

  Ankit Kejriwal

  Corporate, Private Equity

• 

  Ankush Goyal

  Corporate, Private Equity

• 

  Arjun Ghose

  Corporate, Private Equity

• 

  Arnav Dayal

  Corporate, Private Equity

• 

  Gautam Singh

  Corporate, Private Equity

• 

  Harsh Jain

  Corporate, Private Equity

• 

  Harsh Maggon

  Corporate, Private Equity

• 

  Kosha Thaker

  Corporate, Private Equity

• 

  Nishant Parikh

  Corporate, Restructuring, Special Situations and Insolvency, Banking and Finance, Private Equity

• 

  Pranav Atit

  Corporate, Private Equity

• 

  Sanjam Arora

  Corporate, Private Equity

• 

  Sneha Vardhan

  Corporate, Private Equity

• 

  Upasana Rao

  Corporate, Environmental, Social, and Governance (ESG), Private Equity

• 

  Vaibhav Kothari

  Corporate, Restructuring, Special Situations and Insolvency, Private Equity

• 

  Yogesh Singh

  Corporate, Restructuring, Special Situations and Insolvency, Private Equity