Majmudar& Partners (M&P) acted as Indian legal counsel to CreditAccess Asia N.V. (CAA), in connection with a growth capital equity investment by the Asian Development Bank to CAA’s pan-Asia microfinance operations of approximately US$50 million. CAA provides professional and customized financial services to local micro entrepreneurs in India, Indonesia, and The Philippines. The M&P team conducted a complex vendor legal due diligence on CAA’s Indian subsidiaries and advised on various regulatory matters concerning the microfinance sector in India.

Managing Partner, Akil Hirani, led the M&P deal team on this transaction. Jones Day acted as Dutch and Italian counsel to CAA; Accralaw acted as Filipino counsel to CAA; and Latham & Watkins acted as Indonesian counsel to CAA. This was one of the largest multilateral institution microfinance investments in Q1 of 2017.