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.