US-based law firm King & Spalding advised Eastgate Capital Group on its acquisition of a significant minority interest in Avendus Capital Private, an Indian financial services company.
One of the largest private equity firms in the Middle East, Eastgate is based in Dubai. Established in 2006, it is the private equity arm of NCB Capital, the investment banking, asset management and brokerage subsidiary of the National Commercial Bank of Saudi Arabia. Eastgate has US$800 million under management.
King & Spalding partner Benjamin Newland and associates Tamam Barhoush and James Stull, all from the firm’s Dubai office, led the transaction.
The purchase price of the deal was not disclosed.
