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Apis Growth Fund II, a private equity fund managed by Apis Partners, is investing $110 million to acquire a minority stake in L&T Infrastructure Debt Fund.
Phoenix Legal represented Apis Partners and the team was led by Partner Sriram Ramachandran along with Senior Associate Lavanya Mani and Associates Manasi Chandriani and Shraddha Desai.
Shardul Amarchand Mangaldas represented L&T Infrastructure Debt Fund and the team was led by Sapan Gupta, Partner, NP Head – Banking & Finance along with Partner Abhinav Bhalaik, Senior Associate Nikhil Joseph and AssociateChirag Shah.
Of the total investment amount, 70% will be in the form of growth capital for L&T IDF and 30% will be earmarked for the purchase of shares from existing shareholders of subsidiaries of L&T Finance Holdings, reported Mint.