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    BlackSoil, India Walton Street Capital team acquire US PE firm’s debt platform

    Synopsis

    The India management team is led by Kaushik Desai, Vinit Prabhugaonkar and Vimal Jangla and had advised affiliates of Walton Street Capital on India-based equity and debt transactions totalling around $300 million for over 12 years prior to the buyout.

    Debt AnalysisGetty Images
    Walton Street Capital has real estate and real estate-related assets under management worth $12 billion and started operations in India in 2007.
    Alternative credit platform BlackSoil and the former India-based management team of US-based realty investment adviser Walton Street Capital have joined hands to acquire Walton Street India’s real estate debt business.

    The India management team is led by Kaushik Desai, Vinit Prabhugaonkar and Vimal Jangla and had advised affiliates of Walton Street Capital on India-based equity and debt transactions totalling around $300 million for over 12 years prior to the buyout.

    Walton Street Capital has real estate and real estate-related assets under management worth $12 billion and started operations in India in 2007.

    Walton Street Capital’s equity investments in India are not part of the transaction.

    “Our India team was the obvious choice to continue to carry on our Indian real estate debt business. We worked side by side with them for many years to develop the business, and we are happy to see them acquire it with the support of BlackSoil,” said Eric C. Mogentale and Jeffrey S. Quicksilver, Managing Principals and Co-Founders of Walton Street Capital in a joint statement.

    BlackSoil, which focuses on real estate, venture and structured debt and India-based affiliates of Walton Street Capital began co-investing in Indian real estate debt opportunities in 2015.

    Walton Street India later became the investment advisor to BlackSoil in connection with the nearly Rs-320-crore Walton Street BlackSoil Real Estate Debt Fund I. The Fund was fully deployed across ten investments in the key metros of Bengaluru, Hyderabad and Mumbai.

    “Our association with Walton Street Capital and its affiliates over the last 6 years has been extremely fruitful. We have enjoyed working with their India management team and have appreciated their professionalism and rigour in advising us on the debt platform. We are excited to embark on this new chapter with them,” said Mohinder Pal Bansal, co-founder of BlackSoil.

    Since its inception in 2014, BlackSoil has cumulatively completed over 130 deals, disbursed over Rs 2,300 crores and has assets under management worth over Rs 900 crores across its non-banking finance company (NBFC) and multiple alternative investment funds (AIFs) under the group umbrella.


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