We are specialised cross-border transactional lawyers mainly focused on investment funds (private equity and private credit) and public M&A. Our service proposition, at the threshold, is built on the primary attribute of ‘empathy’ – where we completely understand the commercial and strategic objectives of our clients, and take pride in eliminating choices and optimizing results for our clients.

Recent Analysis

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Ambiguity with thin cap norms: Private credit players risk significant tax leakage
Budget 2023: Impact on InvITs
SEBI’s Proposed Disclosure Regime: Impact on Public M&A and Directors’ Liabilities
Private Funds: SEBI introduces investor diligence requirements for AIFs
Ambiguity with thin cap norms: Private credit players risk significant tax leakage
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Research papers

Should Offshore Funds Appoint Directors?
Fund Formation: The Beginning of the Fund Lifecycle for India Focussed Funds
InvITs: Gamechanger in the Indian Infrastructure Story!
Structures and Considerations for Offshore Debt Funding
Should Offshore Funds Appoint Directors?
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Recent Transactions

Contact Us

717, Tower B, One BKC, Bandra Kurla Complex,
Mumbai – 400051
contact@resolutpartners.com

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© Resolüt Partners 2023. All rights reserved.

About Us

Who We Are

As a team of highly commercial lawyers, our mission is to be an aspirational brand for complex cross-border transactions. We are specialised transactional lawyers mainly focused on investment funds, private equity and M&A. Our service proposition, at the threshold, is built on the primary attribute of ’empathy’ – where we completely understand the commercial and strategic objectives of our clients and take pride in eliminating choices and optimizing results for our clients.


We have been closely associated with the investment funds industry and have advised some of the largest global sponsors and sovereign wealth funds. Our core specialism, therefore, is to advise on every aspect across the lifecycle of a fund – from formation, investments, structured transactions, governance issues (fund and portfolio level), to exits and commercial disputes. In addition to legal expertise, our key standout ability is to understand deal-specific tax and accounting issues and engage with principals in devising deal commercials including mathematical formulations.


We have been involved in prominent public equity, private equity, M&A and private credit transactions across different industry verticals. Underlying our experience and expertise is the team’s unflinching commitment towards research and advocacy efforts. Our research-based approach to advising transactions has allowed us to develop innovative structures and anticipate critical roadblocks in high-stakes transactions.


The heart of our practice is a common vision we share – to function as a firm driven by purpose and not merely by profit. We like to be identified by our values and organizational philosophy. We work with a select family of clients where we function with utmost professionalism yet remain emotionally invested with our clients’ purpose. Success for us is a measure of happiness, innovation, and professional excellence.

Our People(Outer Page)

Ruchir Sinha

Shreyas Bhushan

Adhitya Srinivasan

Amudavalli Kannan

Anandu Unnikrishnan

Priyank Kapadia

Praveena N.S.

Raina Mitra

Shivam Yadav

Shreejith R

Drishya Kumar

Melisa Carvalho

Radhika Bajoria

Sanyog Mestry

Simrena D’souza

Ashutosh Dhar

Rupesh Sawant

Our People Inner Page

Ruchir Sinha

Email : ruchir.sinha@resolutpartners.com

Phone : +91 8169272986

Recognitions

  • “Distinguished Practitioner,” Corporate M&A and Private Equity, Asialaw, 2021 and 2022
  • “Notable Practitioner”, Corporate M&A and Private Equity, IFLR 1000, 2020
  • Recognised for “Most Innovative” transactions by Financial Times, London, 2016
  • Nominated as a “Deal Maker of the Year 2019”, Thomson Reuters – Asian Legal Business, 2019
  • Nominated amongst the top 3 corporate lawyers in India (under 35 category), IDEX Legal Awards, 2015
  • Winner of the IBA Young Lawyer Scholarship, Vancouver, 2010
  • Elected Member, Royal Institute of Chartered Surveyors

Overview

Ruchir has 17 years of experience advising clients primarily on private equity, PIPE, M&A and structured finance transactions. With background in fund formation and tax, he has been involved in developing the first generation of asset-specific tax optimized investment platforms and managed accounts. He advises leading global financial sponsors, SWFs and other institutional investors on private equity and PIPE deals primarily focusing on financial services (BFSI), technology and infrastructure sectors, few of which have been recognized as most innovative by Financial Times, London. He was involved in structuring the first unlisted InvIT, and advised on several other listed InvITs. He regularly advises strategic acquirers, SWFs and other global sponsors on cross border deals in listed and unlisted space, with a special focus on control deals
Ruchir has been rated as a ‘distinguished practitioner’ for years 2021 and 2022 by AsiaLaw and nominated as ‘Dealmaker of the Year’ by Asian Legal Business. Ruchir co-chairs APREA’s Infrastructure and InvITs committee and has been closely involved in the development of the SEBI REIT and InvIT Regulations. Prior to setting up Resolüt Partners, Ruchir headed the corporate transactions group (PE, M&A, Structured Finance and Fund Formation) at a leading Indian law firm.

Representative Matters

  • Advised GIC Singapore on their investment in the Reliance Tower InvIT alongside Brookfield and British Columbia Investment Management Company to acquire JIO Telecom Towers
  • Advised GIC Singapore on their investment in setting up the GIC – IRB InvIT (first unlisted Infrastructure Investment Trust)
  • Advised GIC Singapore on their investment in Bharti Airtel QIP
  • Advised Investcorp Bank on its acquisition of IDFC’s real estate and private equity asset management businesses, and in setting up their offshore fund vehicles for funding their various investment strategies (~AUM of USD 500 mn)
  • Advised Cintra INR Investments BV, a subsidiary of Ferrovial S.A., Europe’s largest infrastructure groups in their investment in IRB Infrastructure Developers Limited (~USD 430 mn)
  • Advised Mapletree Investment Pte. Ltd. in the buy-out of SP Infocity from CPPIB and Shapoorji Pallonji Group (~SGD 500 mn)
  • Advised Glade Brook Capital on their investment in Zepto’s series D fundraise (~USD 200 mn)
  • Advised GIC Singapore on their co-investment into the IndiGrid InvIT with KKR
  • Advised Brookfield Asset Management on its investment in INDIS housing projects, a Hyderabad-based real estate firm (~USD 135 mn)
  • Advised Glade Brook Capital and Canaan Valley Capital on their investment in Dailyhunt (~USD 100 mn)
  • Advised Alpine Capital on their investment in KreditBee (~75mn)
  • Advised GIC Singapore on their pre-IPO investment in Star Health
  • Advised GIC in co-investment transactions into a Blackstone vehicle and Barings vehicle (with underlying listed targets)
  • Advised GSO Partners (now Blackstone Credit) in the 100% sale of Mgage to Tanla Solutions against a swap of listed shares

Education

B.A. LL.B. (Hons.), ILS Law College

Publications

  • “How will COVID-19 losses impact valuation in M&A transactions?”, The Economic Times, May 2020
  • “Should the court restrain lenders from invoking share pledge?”, Moneycontrol, April 2020
  • “Decoding India’s infrastructure investment trusts”, Infrastructure Investor (PEI Publication), October 2019
  • “Pledging of Shares; Do lenders need to rethink their strategy?”, Business Standard, March 2019
  • “Issues for offshore investment funds: To declare or not to declare”, MINT, September 2018
  • “Evolving negotiation strategies in late stage PE investments”, MINT, August 2017
  • “REITs: Will they be attractive enough?”, MINT, June 2017
  • “Thin Capitalisation norms to weigh on realty offshore funding”, ET Realty, February 2017
  • “Realty reforms to boost offshore funds”, ET Realty, December 2016
  • “REITs- Will they now be a reality?”, ET Realty, February 2016
  • “Externalisation: Regulatory regime forcing companies’ migration to foreign shores”, The Economic Times, January 2014
  • “The great deception: Satyam’s accounting scandal offers salutary lessons to companies”, Authored Cover Story, Asialaw, 2009

Interviews

  • Impact of Covid-19 on the deal making landscape, emerging opportunities for credit and special situations investors in infrastructure, promoter financing and securitization of loans, Exclusive Interview with MINT, June 2020
  • REITs and InvITs, Exclusive Interview with ET Now, April 2017
  • SEBI likely to launch REITs, CBNC TV-18, December 2013
Ambiguity with thin cap norms: Private credit players risk significant tax leakage
Budget 2023: Impact on InvITs
Private Funds: SEBI introduces investor diligence requirements for AIFs
EduInfra - Emergence of a new asset class
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?

Core Focus ( Outer Page)

Private Funds and Asset Management

Our core practice is centred around funds and asset management, and we have extensive expertise in advising on the various aspects in the lifecycle of an investment fund.

Public Equity

Public M&A is arguably the most nuanced field of deal-making in India, considering the myriad legislations and constantly evolving corporate governance practices.

Private Equity/ M&A

Our private equity practise is driven by a practical understanding of the vulnerabilities of offshore financial sponsors, LP-GP relationships, and importantly, governance standards required by fund managers.

Private Credit/ Structured Finance

Our private credit / structured finance team specializes in high yield private debt transactions (primarily foreign debt), mezzanine debt infusions and securitization of different asset classes.

Infrastructure and InvITs

Infrastructure Investment Trusts (“InvITs“) and infrastructure is a core specialism of the firm. In 2019 alone, members of the team have advised some of the world’s largest sovereign wealth funds, pension funds, and leading global financial sponsors on some of the largest and pioneering transactions in the space with overall deal values exceeding USD 5 billion.

Stakeholder Governance and Stewardship

Stakeholder governance has occupied centre-stage in the context of complex corporate transactions in the public M&A sphere.

Tax Structuring & Litigation​

A specialism that we take pride in is our understanding of cross-border tax issues. The role of a tax advisor has generally been undertaken by accounting firms, but each tax position taken needs to be validated under law. In our prior dealings, we have seen lack of tax-enabled advisory as a huge handicap in managing and executing high-stakes transactions.

Research inner page

Core Focus (Inner Page)

Core Focus

Private Funds and Asset Management

Our core practice is centred around funds and asset management, and we have extensive expertise in advising on the various aspects in the lifecycle of an investment fund. We view fundraising as the foundation of the lifecycle of an investment fund and as a critical piece that informs various aspects of its operations and investment programme. We apply a rigorous process to our fund formation projects, which involves a study of the outcome of prior investor negotiations and approaches adopted by peer funds in the market, a thorough deliberation of the commercials, and ultimately, the structuring and documentation exercise.


Our funds practice benefits from our team’s first-hand experience with fundraising on behalf of some of the largest fund houses in India, Europe and the United States. Internationally, members of our team have represented some of the largest sponsors such as EQT and CVC on their flagship buyout funds. Our team has acted on product offerings across various asset classes, ranging from vanilla venture capital and private equity funds to more bespoke products in the real estate, infrastructure, debt, fintech and impact investment space. We take pride in being thought leaders, unafraid of innovation and have been at the forefront of developing innovative structures during challenging fundraising cycles.


On the research side, we closely follow judicial developments and market trends on governance issues and fiduciary responsibilities. As these continue to assume greater importance in LP-GP negotiations during the course of fund operations, we are committed to identifying and defending the most efficient protections in terms of key person obligations, change of control, GP removal triggers and indemnification provisions.


As lawyers, we believe it is important to shape conversations relating to legal reform. With this in mind, our team has been actively involved with the rollout of the Foreign Portfolio Investors (FPI) Regulations (which replaced the erstwhile FII Regulations) and the introduction of the regulatory framework for Real Estate Investment Trusts, to take a few examples. Whilst the mainstay of our practice is focused on representation of sponsors, our team has, from time to time, been retained to act for LPs in special situations (such as where the LP is the cornerstone investor or where the LP is participating in a managed account arrangement or investing in a single-asset fund). We have been engaged repeatedly by some of the world’s largest sovereign wealth funds, pension funds and large institutional investors.

Relevant Research

Private Funds: SEBI introduces investor diligence requirements for AIFs
How to Negotiate Key Person Provisions – A Lawyer’s Guide
What’s Holding Back Indian Fund Managers From Raising Global Capital?
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