J. Sagar Associates advised IIFL Special Opportunities Fund and its series managed by IIFL Asset Management Limited in respect of its investment of US$ 100 million into Northern Arc Capital Ltd, a nonbanking financial company comprising both primary and secondary rounds. IIFL was the lead investor with Standard Chartered Bank (Singapore Branch) and Affirma Capital also participating in the round with an investment of US$ 30 million. The fresh round of investment will help Northern Arc address the debt needs of client base across sectors, including new-age financial institutions in sectors such as consumer finance and fintech.

Till date, Northern Arc has enabled debt financing of around Rs 70,000 crore, with about 20% from its own balance sheet for its clients across microfinance, small business finance, affordable housing finance, vehicle finance, agriculture finance, and corporate finance. The JSA team comprised Partner Manav Raheja and Associate Gaurav Matta. The competition law aspects were advised by Partner Vaibhav Choukse, Principal Associate Unnati Agrawal and Associate Akanksha Mehta.