AZB and JSA help TVS Logistics raise PE funding from KKR and Goldman Sachs

TVS Logistics has raised private equity funding of Rs. 268 crore ($53 million) from global investment firms Kohlberg Kravis Roberts (KKR) and Goldman Sachs..KKR has invested Rs. 242 crore ($47 million) while the existing investor Goldman Sachs will make the rest of the investment..The Mumbai office of AZB & Partners advised KKR with a team led by Partner Ashwin Ramanathan along with Associate Vaidhyanadhan Iyer while AZB Delhi Partner Gautam Saha advised Goldman Sachs..J. Sagar Associates advised TVS Logistics with a team led by Partners Vivek Chandy and Raj Ramachandran..The investment would be used to further expand the logistics business..According to VCCircle, Goldman Sachs made an initial investment of about Rs. 100 crore in 2008 picking up a minority stake in TVS Logistics.This is KKR’s first new portfolio investment since it invested in Kolkata-based public listed NBFC Magma Fincorp last year..Recently, Global private equity major General Atlantic had invested $104 million to acquire a minority stake in Mumbai-based freight and logistics company, Fourcee Infrastructure Equipments. Alliance Legal advised Fourcee Infra while Wadia Ghandy advised General Atlantic.