ICG Strategic Equity Advisors’ Acquisition of private equity portfolio investments held by Standard Chartered Private Equity and its affiliates in India

Khaitan & Co advised ICG Strategic Equity Advisors LLC (ICGSE) on the deal

ICG Strategic Equity, the private equity arm of the US-based Intermediate Capital Group, has made its first investment in Asia, agreeing to buy a portfolio of Standard Chartered’s private equity assets for $1 billion.

The portfolio will be managed on a day-to-day basis by Affirma Capital, a newly formed, independent private equity firm owned and operated by the senior leadership team of Standard Chartered Private Equity (SCPE) led by Nainesh Jaisingh.

The portfolio comprises private equity investments in 35 companies across South-East Asia, India, China, South Korea, the Middle East and Africa, with Affirma Capital having assets under management of $3.6 billion.

This includes the portfolio being acquired by the ICG Strategic Equity funds, as well as assets managed for third-party investors in SCPE’s existing Marina and Korea Funds.

Khaitan & Co advised ICG Strategic Equity Advisors LLC (ICGSE) on the deal with a team including Siddharth Shah, Tarunya Krishnan (Picture), Shantanu Gupta, Gautam Suseel and Srikanth Mantravadi.

Involved fees earner: Tarunya Krishnan – Khaitan & Co.; Siddharth Shah – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Intermediate Capital Group Plc;