How to Negotiate Key Person Provisions – A Lawyer’s Guide

How to Negotiate Key Person Provisions – A Lawyer’s Guide November 18, 2022 The key person clause is one of the most important instruments of governance and discipline for investment funds. At its core, the key person provision helps to ensure that individuals who are identified as being critical to the prospects of the fund… Continue reading How to Negotiate Key Person Provisions – A Lawyer’s Guide

EduInfra – Emergence of a new asset class

EduInfra – Emergence of a new asset class November 15, 2022 In this article, we explore an emerging sub-set of infrastructure which is garnering increasing amounts of interest from global private equity and pension funds – Educational Infrastructure or ‘EduInfra’. EduInfra refers to the infrastructure, building and land used to deliver social services like education.… Continue reading EduInfra – Emergence of a new asset class

Investor or developer? Real estate regulator (RERA) classifies real estate fund as a promoter

Investor or developer? Real estate regulator (RERA) classifies real estate fund as a promoter October 31, 2022 In a recent order, Maharashtra’s real estate regulator – Maha RERA – qualified a private equity fund holding a minority equity stake as a ‘promoter’ under the Real Estate (Regulation and Development) Act (RERA) basis certain veto rights,… Continue reading Investor or developer? Real estate regulator (RERA) classifies real estate fund as a promoter

What’s Holding Back Indian Fund Managers From Raising Global Capital?

What’s Holding Back Indian Fund Managers From Raising Global Capital? October 20, 2022 The recently overhauled overseas investment regime has thrown open newer avenues for global fundraising. Indian fund managers often grappled with challenges of pooling offshore capital. On one hand, offshore investors didn’t want to pool into India owing to Indian tax registrations and… Continue reading What’s Holding Back Indian Fund Managers From Raising Global Capital?

Unexplored Strategies in the Fortis Saga: Public shareholders and IHH Healthcare exposed to significant collateral damage?

Unexplored Strategies in the Fortis Saga: Public shareholders and IHH Healthcare exposed to significant collateral damage? October 13, 2022 Diversion of funds, fundraises gone wrong, stalled open offers, high-stakes arbitrations, settlements with SEBI, and more – the Fortis story has truly been a saga in every sense, and it’s Daiichi Sankyo which leads the latest… Continue reading Unexplored Strategies in the Fortis Saga: Public shareholders and IHH Healthcare exposed to significant collateral damage?

SEBI orders public disclosure at M&A negotiation stage: Compromises deal certainty and amplifies directors’ liabilities

SEBI orders public disclosure at M&A negotiation stage: Compromises deal certainty and amplifies directors’ liabilities September 6, 2022 Are you in the middle of exploring a confidential listed M&A deal? If yes, SEBI may have just opened a Pandora’s box by mandating you to disclose the details of the transaction as it unfolds – effectively… Continue reading SEBI orders public disclosure at M&A negotiation stage: Compromises deal certainty and amplifies directors’ liabilities

Revamped Overseas Investment Regime (Part II) – Overseas Debt Investments Rationalized

Revamped Overseas Investment Regime (Part II) – Overseas Debt Investments Rationalized August 26, 2022 The New OI Regime has introduced significant changes to outbound debt investments by Indian entities. While the ambit of debt instruments has been widened, debt investments can now only be made where the Indian entity has control – unlike the erstwhile… Continue reading Revamped Overseas Investment Regime (Part II) – Overseas Debt Investments Rationalized

Revamped Overseas Investment Regime (Part I) – A Rational Overhaul

Revamped Overseas Investment Regime (Part I) – A Rational Overhaul August 26, 2022 Earlier this week, the central government and the RBI overhauled the regime for offshore investments by Indian residents – in a move to encourage offshore expansion and M&A/ PE activity.   Indian companies are now freely permitted to flip their structures and… Continue reading Revamped Overseas Investment Regime (Part I) – A Rational Overhaul

GP-Led Secondaries in India – Considerations and Challenges

GP-Led Secondaries in India – Considerations and Challenges August 25, 2022 The secondaries market constitutes an important facet of the global alternative investments ecosystem. At its core, the secondaries market seeks to address two fundamental issues: (i) providing liquidity to investors (limited partners); and (ii) avoiding premature disposal of promising assets and upside potential of… Continue reading GP-Led Secondaries in India – Considerations and Challenges

Decoding Boardroom Dilemmas (Part III): Can Nominee Directors Share UPSI with Nominating Shareholders?

Decoding Boardroom Dilemmas (Part III): Can Nominee Directors Share UPSI with Nominating Shareholders? August 5, 2022 Once an institutional shareholder has nominated a director, there is a natural expectation for the shareholder to receive information about the target company so that their collective interests are protected by the nominee director. But is such information flow… Continue reading Decoding Boardroom Dilemmas (Part III): Can Nominee Directors Share UPSI with Nominating Shareholders?

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We regularly write on Fund Formation, PE, PIPE and M&A, Structured Finance, Fund Litigation, Governance and Stewardship. Stay tuned.