Parthiv Rishi

Private Equity and M&A in Asia

• KKR on a number of transactions including:
  • its primary and secondary investment into PHINMA Education, one of the largest private higher education groups in Southeast Asia with colleges and universities in the Philippines and Indonesia.
  • its initial primary and secondary and follow-on investments into Equest, a Vietnam-based K-12 education platform.
  • its investments into Livspace (Series F; an Indian unicorn and one of Asia’s largest omni-channel home interior and renovation platforms); GrowSari (Series C; a B2B e-commerce platform in the Philippines); Advanced Navigation (Series B; an Australian developer of AI robotics and navigation technology); and Kiotviet (Series B; a Vietnam merchant platform for SMEs).
• ChrysCapital, a leading investment firm in India on a number of transactions including: 
  • its acquisition of Results CX, a customer experience company working with Fortune 100 and 500 companies worldwide, from One Equity Partners.
  • its acquisition of Xoriant Corporation, a Silicon Valley-headquartered digital product engineering, software development, and technology services firm.
  • its bid to acquire Indian medical device maker Healthium Medtech (in conjunction with Mankind Pharma) from Apax Funds. 
• Hillhouse Capital on a number of transactions, including:
  • its investments into Traveloka, Indonesia’s largest online travel search company, and ongoing shareholder-related matters and subsequent funding rounds by Traveloka.
  • its bid to acquire Eu Yang Sang, one of the leading traditional Chinese medicine retailer and manufacturers in Asia.
• Stonepeak on its preferred share investment into AGP Sustainable Real Assets, a Singapore-based global infrastructure and real assets developer and operator. 
• 65 Equity Partners, an independently managed investment firm wholly-owned by Temasek Holdings, on its investment in NEON Group, which specializes in immersive in-person experiences held around the world.
• Sembcorp Industries on the sale of Sembcorp Energy India, one of the largest power producers in India, for approximately US$1.5 billion.
• Affinity Equity Partners on its agreement to acquire INTI University and Colleges in Malaysia from Laureate Education, Inc.
• Clermont Group on its acquisition of iCare Benefits Co., Ltd., a lending and payments business based in Vietnam.
• Nefab Group AB on its acquisition of the Hong Kong, China, and Southeast Asia business units of Reflex Packaging Group, a major provider of sustainable thermoformed cushioning.
• Precisely, a Clearlake Capital portfolio company, on its acquisition of Transerve, an Indian headquartered SaaS visualization, data enrichment and analysis company.
• The management and employees of Tricor Holdings Limited on their investment alongside Permira on the US$835 million acquisition of Tricor Holdings Limited from The Bank of East Asia Limited and NWS Holdings Limited.
• Greenko Group, one of the leading renewable energy businesses in India, on: (i) the acquisition of Orange Renewable, a wind and solar platform in India, from Singapore-based AT Capital for US$1 billion; (ii) the acquisition of SunEdison Inc.’s wind and solar assets in India; and (iii) the acquisition of an interest in the US$1.5 billion Teesta 1,200 MW hydro power plant in North Sikkim from a consortium of private equity firms.
• Dentsu Aegis Network, a multinational media and digital marketing communications company, on its acquisition of Ambient Digital in Vietnam and Myanmar.
• The Bank of East Asia Limited on:
  • its acquisition, alongside an existing shareholder, of PRASAC Microfinance Institution, the largest microfinance institution in Cambodia; and
  • the sale of its 30% interest in PT Bank Resona Perdania, an Indonesian financial institution, to Bank of Yokohama Ltd.
• Vision Well Limited on the sale of its 20% interest in PT Bank Resona Perdania, an Indonesian financial institution, to Daido Life and Resona Bank.
• Diamond Generating Asia (DGA), a subsidiary of Mitsubishi, on an indirect sale of part of its interest in Electricity Generating Public Company Limited of Thailand (through the sale of its interests in TEPDIA Generating BV) to Kyushu Electric Power Company Limited.
• Standard Chartered PLC on the sale of its interest in Merchant Solutions LLC, a card payments services provider, to First Data Corporation.
• Qatar Holdings on its joint venture investment into the Pavilion real estate development in Kuala Lumpur.

Parthiv has also advised on a number of transactions for private equity clients in Europe. Some highlights include advising*:

• Lloyds Development Capital Limited on a number of acquisitions, including of Fever Tree Drinks, D&D Restaurant Group, Capital Economics, Bluestone Group and Imagine Nation, and on a number of disposals, including of Easynet Group to Equistone Partners Europe Limited and Ocean Outdoor to Searchlight Capital Partners.
• Mayfair Equity Partners on a number of transactions, including on its acquisition of YO! Sushi restaurant group from Quilvest Private Equity.
• Cerberus Capital Management, L.P. on a number of transactions, including the acquisition of MCS Group Inc. and the acquisition (with Arrow Global Limited) of a credit card loan portfolio from Santander Bank, N.A.
• Oaktree Capital Management on a number of transactions, including the acquisition of Life Company Consolidation Group (LCCG) and the related arrangements with the founders of LCCG, the acquisition of IBRC Assurance Company Limited (through LCCG) and the consortium bid (alongside PIMCO and Marathon Asset Management LP) for the €6.4 billion mortgage portfolio from Catalunya Banc (code-named “Project Hercules”).
• Arle Capital Partners on the sale of Innovia Group LLC by way of a competitive auction process.

Emerging Company, Venture and Growth Capital in Asia*

• Jungle Ventures as lead investor in the funding rounds of: Kredivo (Series D; an Indonesian unicorn and BNPL platform); Drivetrain AI (Series A; an India-based SaaS business); Edupia (Series A; a leading edtech platform in Vietnam); inFeedo (Series A; a leading employee experience platform in Asia); Mio (Series A; a Vietnamese social commerce platform); and together with CerraCap Ventures and CapHorn on the sale of Dathena Science, a Singapore-headquartered deep-tech company that provides AI driven data privacy and security solutions, to Proofpoint.
• Lightspeed India Partners as lead investor in the funding rounds of Aspire (Series C (also advising Peak XV); a Southeast Asia-based neobank which offers a full-stack finance operating system for businesses); Pintu (Series A; an Indonesian crypto trading platform); and Geniebook (Series A with East Ventures; a Southeast Asian edtech business).
• Ninja Van, a Singapore unicorn and leading logistics operator in Southeast Asia, on its US$578 million Series E financing round led by Alibaba Group and Geopost/DPD Group.
  
• NetEase Games on the US$110 million Series D fundraising round of Build a Rocket Boy, a leading independent gaming and entertainment company.
• Dream Sports, an Indian unicorn and sports technology company and owner of the leading fantasy sports platform Dream11, on its US$840 million and US$400 million secondary investment rounds.
• Rainmaking on the sale of its Asia Pacific venture-building and start-up business, comprising operations across Singapore, Japan and South Korea, to consulting firm Bain & Company.
• EE Capital in connection with their investments in Hopscotch – an Indian e commerce fashion retailer – and the subsequent investment round led by Amazon.
• EDBI, the investment arm of the Singapore Economic Development Board, in its Series A investment in Automera, a company developing an autophagy drug designed to target chimera small molecules (AUTACs).
• Xora Innovation, an early-stage deep tech investing platform of Temasek, as the co-lead investor alongside Seventure in the Series A funding round of Allozymes, a Singapore-based startup which applies microfluidics technology to develop custom-designed enzymes. 
• LDC Food Innovation, an affiliate of the Louis Dreyfus Company, in its Series A investment into ProfilePrint, an AI-powered food ingredient fingerprint technology platform.
• Lever VC in the Series A financing of Bond Pet Foods, which creates alternative plant-based protein products for pets using precision fermentation.
• Traveloka, an Indonesian unicorn company providing airline ticketing, hotel booking and lifestyle services, on its Series D fundraising round led by Expedia.
• Temasek Holdings on its Series E investment into Gojek, Indonesia’s leading ride-hailing and on-demand mobile application, and subsequent shareholder-related matters.
• Aviva Ventures as lead investor on the Series C funding round of CXA Group, a Singapore-headquartered health and wellness technology company.
• Northstar Group as lead investor on the Series D financing round of Topica Edtech Group, a Vietnam-based education technology company; and on its investment into UP Gen, a co-working space company based in Vietnam.
• Various Indonesia-based emerging companies on their financing rounds, including Cosmart (an Indonesian membership-based e-commerce platform for essential products); Diri Care (an Indonesia consumer health platform); and Pintarnya (a digital platform connecting blue collar workers with employers) in Indonesia.

*Includes transactions completed prior to joining Sidley.

• Diversity, Equity & Inclusion Committee (Asia Pacific Chair)
• Counsel Committee