KKR Asian Fund II L.P., a fund managed by KKR & Co. L.P. completed the acquisition of 9.8% stake in Avendus Capital Private Limited from Eastgate Capital Group, Americorp Ventures, Ranu Vohra, Kaushal Aggarwal and Gaurav Deepak, and other sellers.
December 30, 2015
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KKR Asian Fund II L.P., a fund managed by KKR & Co. L.P. (NYSE:KKR) agreed to acquire 9.8% stake in Avendus Capital Private Limited from Eastgate Capital Group, Americorp Ventures, Ranu Vohra, Kaushal Aggarwal and Gaurav Deepak, and other sellers for $35 million on November 16, 2015. KKR Asian Fund II L.P. will also acquire new shares of Avendus Capital Private Limited by infusing $70 million in a private placement and acquire 62.2% stake. Avendus' existing management team, led by co-founders Ranu Vohra, Gaurav Deepak and Kaushal Aggarwal, will continue to manage the platform's day-to-day operations and its growth into the new businesses. The deal is subject to customary regulatory approvals. Reeba Chacko, Anand Sinha, Usha Narayanan, Ipsita Dutta, and Nisha Kaur Uberoi of Cyril Amarchand Mangaldas acted as the legal advisor for KKR & Co. L.P. Ian Ho of Simpson Thacher & Bartlett LLP and Cori Lable of Ropes & Gray LLP acted as legal advisor. Deepak Jodhani, Vinita Choudhury, Siddharth Shah, Arindam Ghosh, Kaushalya Shetty, Yashashree Mahajan, Daksha Baxi, Sanjay Sanghvi, Ritu Shaktawat, Ashish Mehta, Haigreve Khaitan and Niren Patel of Khaitan & Co acted as legal advisor for Avendus Capital. Vikram Raghani and Gautam Gandotra of J. Sagar Associates acted as legal advisors for Eastegate.
KKR Asian Fund II L.P., a fund managed by KKR & Co. L.P. (NYSE:KKR) completed the acquisition of 9.8% stake in Avendus Capital Private Limited from Eastgate Capital Group, Americorp Ventures, Ranu Vohra, Kaushal Aggarwal and Gaurav Deepak, and other sellers in December, 2015.
KKR & Co. Inc. is an investment company, which offers alternative asset management as well as capital markets and insurance solutions. The Company's asset management business offers a range of investment management services to fund investors around the world. It operates in two segments: Asset Management and Insurance. The Asset Management business offers a range of investment management services to investment funds, vehicles and accounts (including Global Atlantic) and provides capital markets services to portfolio companies and third parties. The Insurance business is operated by Global Atlantic, which is a United States retirement and life insurance company that provides a suite of protection, legacy and savings products and reinsurance solutions to clients across individual and institutional markets. It offers individuals fixed-rate annuities, fixed-indexed annuities and targeted life products through a network of banks, broker-dealers and independent marketing organizations.
KKR Asian Fund II L.P., a fund managed by KKR & Co. L.P. completed the acquisition of 9.8% stake in Avendus Capital Private Limited from Eastgate Capital Group, Americorp Ventures, Ranu Vohra, Kaushal Aggarwal and Gaurav Deepak, and other sellers.