Indian law firm Veritas Legal has advised Partners Group on its agreement to acquire a majority stake in Infinity Fincorp Solutions, a Mumbai-based non-banking financial company focused on micro-loans against property from private equity fund True North’s Mauritius affiliate Indium IV (Mauritius) Holdings, which was guided by Cyril Amarchand Mangaldas.
Existing shareholders Jungle Ventures and M. Pallonji group companies were represented by Shardul Amarchand Mangaldas and JSA respectively.
According to media reports, Partners Group, through its portfolio company, PG Lotus, will acquire 65 percent of Infinity, followed by a small infusion of primary capital into the company, resulting in a total of 70-70 percent shareholding for Partners at a cost of $230 million (INR 1950 crores).
Infinity operates across 8 states through a network of more than 120 branches. The company employs over 1,500 professionals, managing an AUM of INR 12 billion, as of March 31, 2025. The company has around 50,000 customers, many of which work in the agriculture, trading and manufacturing sectors and are typically based in smaller towns and cities across the country.
The Veritas team was led by partner Natasha Sethna, principal associate Swapnil Phadnis and associate Kashish Gupta.
The CAM transaction team representing True North was led by partners Aditi Manchanda and Siddharth K. Vedula, with support from principal associate Naimi Kamdar, and associates Kaushik Raichura and SB Aditi. Partner Vandana Sekhri provided strategic inputs.`
CAM partners Gazal Rawal (RBI-related aspects), Jian Johnson (regulatory due diligence), Arya Tripathy (IP, IT and data privacy), Subhojit Sadhu (finance and infrastructure), Sowmya Kumar (employment) and Dhruv Rajain (antitrust) also assisted on the deal.
