Venture Intelligence 2016: Amarchand firms top PE and M&A league tables, AZB with most deals
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Venture Intelligence 2016: Amarchand firms top PE and M&A league tables, AZB with most deals

Aditya AK

Venture Intelligence has released its league tables for Private Equity and Mergers & Acquisitions deals in 2016. One year after they split, each Amarchand firm has topped a table.

Shardul Amarchand Mangaldas topped the PE tables with 47 deals valued at $6.5 billion, while Cyril Amarchand Mangaldas heads the M&A tables with 38 deals valued at around $26 billion. AZB & Partners has topped both tables in terms of deal count, with 58 PE deals and 50 M&A deals in 2016.

Private Equity

Deal Value

AZB’s PE deals are valued at $5.8 billion, putting them in second place, followed by Cyril Amarchand with 34 deals at $3.2 billion, J. Sagar Associates with 28 deals at $2.4 billion and Samvad Partners rounding up the top five, with 43 deals at $2.08 billion.

Platinum Partners and Khaitan & Co are also in the top ten, with 4 deals at $1.6 billion and 33 deals at $1.5 billion respectively. Four international firms also find mention in the top ten: Herbert Smith Freehills, Shearman & Sterling, Freshfields Bruckhaus Deringer and Simpson Thacher & Bartlett.

Deal Count

Shardul Amarchand follows AZB in second place with 47 deals. Samvad Partners with 43, BMR Legal with 41 and Cyril Amarchand with 34 complete the top five. The other firms in the top ten include Khaitan & Co, K Law, JSA, IndusLaw, Vertices Partners and NovoJuris.

Here is the list of the top 20 firms:

RankFirmNo. of dealsAmount (in $billion)
1.Shardul Amarchand Mangaldas476.5
2.AZB & Partners585.8
3.Cyril Amarchand Mangaldas343.2
4.JSA282.4
5.Samvad Partners432.08
6.Herbert Smith Freehills21.8
7.Platinum Partners41.6
8.Khaitan & Co331.5
9.Shearman & Sterling51.4
10.Freshfields Bruckhaus Deringer11.1
10.Simpson Thacher & Bartlett11.1
11.BMR Legal410.9
12.Trilegal220.7
13.Luthra & Luthra140.66
14.IndusLaw230.53
15.Veritas Legal90.49
16.Allen & Overy10.35
17.Counsepro – Formerly Menon Associates160.31
18.Economic Laws Practice70.22
19.Nishith Desai Associates70.17
20.K Law300.16

The complete PE league tables can be viewed here.

M&A

Deal Value

JSA comes a considerably far second in the M&A tables behind Cyril Amarchand, with 37 deals at $15.5 billion. AZB is next with 50 deals at $13.8 billion.

Khaitan & Co has 46 deals at $10.5 billion, followed by Shardul Amarchand with 37 deals at $9.3 billion. Talwar Thakore Associates with 1 deal at $6.4 billion and S&R Associates with 2 deals at $3.7 billion also feature in the top ten.

The international firms in the top ten are Slaughter & May, Freshfields Bruckhaus Deringer and Kirkland & Ellis.

Deal Count

Khaitan follows AZB in second, with 46 deals, followed by Cyril Amarchand with 38 deals and JSA and Shardul Amarchand with 37 deals each. Also in the top ten are Luthra & Luthra with 28, HSA Advocates with 23, Samvad Partners with 19, IndusLaw with 17 and Trilegal and Veritas Legal with 15 deals each.

Here is a list of the top 20 firms:

RankFirmNo. of dealsAmount (in $billion)
1.Cyril Amarchand Mangaldas3825.8
2.JSA3715.5
3.AZB & Partners5013.7
4.Slaughter & May211.2
5.Khaitan & Co4610.4
6.Shardul Amarchand Mangaldas379.2
7.Freshfields Bruckhaus Deringer37.6
8.Talwar Thakore Associates16.4
9.Kirkland & Ellis14.8
10.S&R Associates23.7
11.Majmudar & Partners23.1
12.Luthra & Luthra283.1
13.Shearman & Sterling112.6
14.Simpson Thacher & Bartlett22.3
15.Trilegal151.9
16.Herbert Smith Freehills11.63
17.Veritas Legal151.6
18.Samvad Partners191.52
19.Platinum Partners21.52
20.Crawford Bayley11.4

The complete M&A league tables can be viewed here.

Sector-wise

Shardul Amarchand was on top in terms of PE deals in the Information Technology (IT), Banking, Financial Services and Insurance (BFSI) and Infrastructure sectors. Khaitan & Co led the Healthcare deals table, while BMR Legal topped the Education deals table.

Shardul Amarchand advised 14 PE deals worth $1.6 billion involving IT-focused companies, followed by Platinum Partners ($1.5 billion across two deals) and Samvad Partners ($1.3 billion across 25 deals). Shardul Amarchand also topped BFSI tables advising nine deals with a value tag of $1.05 billion, followed by AZB & Partners ($0.9 billion across 14 deals) and Cyril Amarchand ($0.5 billion across five deals).

Shardul Amarchand topped the Infrastructure deals table, advising six deals worth $1.8 billion. J. Sagar Associates (three deals worth $1.6 billion) and Herbert Smith Freehills which advised the Reliance Infratel – Brookfield deal worth $1.6 billion completed the top 3 slots.

Khaitan & Co led the Healthcare deals table advising seven deals with a value tag of $0.38 billion, whereas Cyril Amarchand (four deals worth $0.17 billion) and JSA (eight deals worth $0.13 billion) accounted for the second and third spots.

In the Education sector, BMR Legal led the table advising four deals worth $91 million. Nishith Desai Associates ($67 million across two deals) and Khaitan & Co, with one deal worth $59 million, completed the top three slots.

SectorRank 1Rank 2Rank 3
ITShardul Amarchand MangaldasPlatinum PartnersSamvad Partners
BFSIShardul Amarchand MangaldasAZB & PartnersCyril Amarchand Mangaldas
InfrastructureShardul Amarchand MangaldasJSAHerbert Smith Freehills
HealthcareKhaitan & CoCyril Amarchand MangaldasJSA
EducationBMR LegalNishith Desai AssociatesKhaitan & Co

Mergermarket had recently released its M&A league tables, which was topped by Cyril Amarchand. Dealogic’s Project Finance league tables saw Link Legal take top spot.

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