Cyril Amarchand Mangaldas (CAM) has acted as legal counsel to Indium IV (Mauritius) Holdings Limited (Indium), an affiliate of True North Managers LLP, on the proposed exit from Infinity Fincorp Solutions Private Limited (Infinity Fincorp) via a strategic sale to PG Lotus Pte. Ltd., a portfolio company of Partners Group.

The transaction, which also involves equity infusion by Partners Group and participation by Jungle Ventures IV VCC and its affiliates, marks a key milestone in the Indian non-banking financial company (NBFC) investment space. The deal was facilitated through a competitive bid process and culminated in the signing of definitive agreements.

Also Read: Saraf & Partners, SAM, AZB & Kirkland Advise on $150 Million Secondary Stake Sale in Fractal Analytics

Deal Overview

Legal Advisory & Team Composition

Core Transaction Team (CAM – Sell Side)

• Aditi Manchanda – Partner

• Siddharth K. Vedula – Partner

• Naimi Kamdar – Principal Associate

• Kaushik Raichura – Associate

• S B Aditi – Associate

Strategic inputs were provided by Vandana Sekhri – Partner

Due Diligence Team

• Aditi Manchanda – Partner

• Siddharth K. Vedula – Partner

• Deepjoyika Ghosh Dastidar – Senior Associate

• Lokit Khurana – Senior Associate

• Kabeer Jay – Associate

• Shivendra Mehndiratta – Associate

RBI Regulatory Advisory

• Gazal Rawal – Partner

• Jian Johnson – Partner

• Yash Mukadam – Senior Associate

• Pratiksha Arekar – Senior Associate

• Aniket Panchal – Associate

Regulatory Due Diligence

• Jian Johnson – Partner

• Sukriti Sarwan – Principal Associate

• Shobhit Dave – Senior Associate

• Yusuf Kathawala – Associate

• Eesha Tirodkar – Associate

• Puvvala Medha – Associate

IP, IT & Data Privacy Advisory

• Arya Tripathy – Partner

• Nidhi Jhawar – Senior Associate

• Rushil Mehta – Associate

Financing Due Diligence

• Subhojit Sadhu – Partner (Finance & Infrastructure), Director (CAM – Middle East)

• Apoorv Jain – Principal Associate

• Sanyam Agarwaal – Associate

Employment Law Advisory

• Sowmya Kumar – Partner

• Luv Saggi – Principal Associate

• Tara Thakur – Associate

Competition Law Advisory

• Dhruv Rajain – Partner

• Vanya Agarwal – Associate

Execution Support

• Anukriti Bhattad – Senior Associate (Bengaluru)

Key Transaction Highlights

• True North, via its affiliate Indium, and other minority sellers exited Infinity Fincorp through a structured secondary sale.

• Partners Group, a global private markets investment manager, acquired a significant equity stake through this deal.

• Jungle Ventures and its affiliates participated in the primary funding round, signalling institutional investor confidence in Infinity Fincorp.

• The transaction involved complex multi-party negotiations and extensive regulatory due diligence across RBI, competition, employment, tax, IP, and financing domains.

Strategic Significance

This transaction enables Partners Group to build a strategic position in India’s fast-growing NBFC landscape, while True North successfully exits with value realization from its investment. For Infinity Fincorp, the capital infusion is expected to fuel its expansion across credit products and deepen its market reach.

Why It Matters

• Showcases the growing maturity of India’s secondary PE market, where structured exits via competitive bids are becoming common.

• Demonstrates the multidisciplinary role of legal advisors, navigating complex diligence and regulatory hurdles across jurisdictions.

• Highlights the importance of legal precision and compliance in cross-border financial services transactions involving regulated entities.

Also Read: CAM, A&O Shearman, Khaitan, and Milbank Advise on Adani’s Landmark $1 Billion Mumbai Airport Bond Deal

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Disclaimer

This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.