US-based private equity (PE) firm General Atlantic is picking up 21.61 per cent stake in IIFL Wealth Management, a subsidiary of IIFL Holdings, for Rs 1,122 crore ($173 million)..This is the first private equity investment in the country’s fast-growing wealth management business, according to media reports..Bharucha & Partners acted for general Atlantic with team led by Vandana Pai Bharucha and Justin Bharucha..Khaitan & Co acted for IIFL with a team led by Partners Haigreve Khaitan, Arindam Ghosh, Aakash Choubey along with Associate Partner Abhishek Sinha, Principal Associates Pooja Patel and Moin Ladha and Associates Vatsal Gaur, Tanushree Bhuwalka, Nidhi Modani and Siddharth Anand..Partner Avaantika Kakkar and Senior Associate Anshuman Sakle advised on the competition law aspect while Executive Director Daksha Baxi along with Associate Shivangi Singh advised on tax issues.
US-based private equity (PE) firm General Atlantic is picking up 21.61 per cent stake in IIFL Wealth Management, a subsidiary of IIFL Holdings, for Rs 1,122 crore ($173 million)..This is the first private equity investment in the country’s fast-growing wealth management business, according to media reports..Bharucha & Partners acted for general Atlantic with team led by Vandana Pai Bharucha and Justin Bharucha..Khaitan & Co acted for IIFL with a team led by Partners Haigreve Khaitan, Arindam Ghosh, Aakash Choubey along with Associate Partner Abhishek Sinha, Principal Associates Pooja Patel and Moin Ladha and Associates Vatsal Gaur, Tanushree Bhuwalka, Nidhi Modani and Siddharth Anand..Partner Avaantika Kakkar and Senior Associate Anshuman Sakle advised on the competition law aspect while Executive Director Daksha Baxi along with Associate Shivangi Singh advised on tax issues.