Augment Infrastructure’s Acquisition of a Majority Stake in CleanMax

Walkers, instructed by Kirkland & Ellis, acted as Cayman Counsel to Augment Infrastructure Managers on its investment in CleanMax.

US investment firm Augment Infrastructure will acquire a majority stake in CleanMax Enviro Energy Solutions Pvt. Ltd. for ?1,650 crores. 

This would involve a purchase of the stake held by Yellow Bell Investment Ltd (an affiliate of Warburg Pincus, and International Finance Corporation (IFC) in CleanMax along with an investment of primary capital in the company to fund its growth pipeline.

UK Climate Investments (UKCI) will continue to be an investor and a member of the board.

CleanMax is a leading Indian renewables company. 

Augment Infrastructure Managers is joint venture between Augment Infrastructure Partners, founded by Viktor Kats and Darius Lilaoonwala, and African Infrastructure Investment Managers, a subsidiary of Old Mutual Alternative Investments, Africa’s largest alternative investment manager. Augment will invest in mid-market growth infrastructure platforms across emerging markets in the renewable energy, water, digital infrastructure and transport sectors. 

The Walkers’ team was led by Cayman Islands partner Bicrom Das (Picture) with assistance from associate Aoife Murphy. Cayman Islands partner Lucy Frew and senior counsel Andrew Howarth advised on Cayman Islands regulatory matters.

Involved fees earner: Bicrom Das – Walkers Global; Lucy Frew – Walkers Global; Andrew Howarth – Walkers Global; Aoife Murphy – Walkers Global;

Law Firms: Walkers Global;

Clients: Augment Infrastructure Managers;