L&L Partners young corporate partner Amit Shetye is set to join New York-headquartered infrastructure investment fund giant Global Infrastructure Partners (GIP) in a senior in-house legal and executive role in India, according to several sources.
The top legal position has been vacant at GIP since legal head Vinod Joseph had left in April for Argus Partners.
Joseph had joined in GIP’s acquisition of IDFC Alternatives around January, on which Shetye had been the lead partner advising.
The 2005 ILS Pune graduate had begun his career at ICICI Bank’s in-house team before joining Luthra & Luthra, as it then was, making partner in 2013.
According to our live league tables, Shetye was one of L&L’s busiest corporate partners, with 10 deals to his name and close relationships with a number of funds besides GIP.
Lighthouse Funds alone had instructed him five times over the 2018-19 financial year in a variety of investments.
We have reached out to L&L and Shetye for comment.
Update 21:10: L&L senior partner Mohit Saraf said: “Amit has been working with GIP for a while, which is a long-standing client of the firm. When they expressed their desire to get Amit on board, we could not say no.
“We wish him success in all his future endeavours.”
While L&L, formerly known as Luthra & Luthra, has lost a lot of corporate partners over the past two years - most recently private equity and corporate partner Vishwanath Pratap Singh - according to information recently disclosed, the firm has maintained a strong corporate deal flow, with 63 deals in the 2018-19 financial year, worth over $28bn, recorded in our league table tallies.
At least 20 of the firm’s partners (including Shetye) have led on corporate and PE/VC transactions at the firm in that time, according to our fuller analysis of deals activity, which will be published soon.
Comments
Interesting change in your tone of coverage of Luthra Exits. Wonder if this has got anything to do with them agreeing to cooperate with LI for sharing information.
Only new thing is that there is a ray of hope ...... now that Mr. [...] is back ! Dosti rang layegi!
Even Luthra didn't ask him to serve this long notice period when he resigned...
Seriously though, we are looking to create more of a sustainable subscriber-funded model where market information can still be freely available for those who need it or can't afford it. Exclusives and timely competitive market intelligence and the like, we will generally endeavour to paywall for a while.
Good luck to Amit - he is excellent at work and a great collaborative spirit at work.
GIP team - you have picked a real asset.
I have worked with all three of them (AS, AM and SJV) on multiple matters, both separate and common matters, and enjoyed their professionalism, expertise, thoroughness, and client management. Best wishes to all three of them - in whatever they do !
I don’t agree with your perspective of seeing this comment as “someone trying to remain relevant” or making it about one person. This is exactly the problem with some people at Luthra. Can’t see anyone succeed or get a compliment without debating eons about it. I complimented Mriga a few days ago- and ppl took off comparing her with Mitroo and others.
On the big picture - I hope you know that legally india comments don’t bring relevance to someone’s 15 year career -these are well established professionals and don’t need your stamp of approval on what is “relevant” or “irrelevant”, in your limited world view.
The fact that you think a mere comment from me / you - will build up someone / pull down someone is laughable.
Anyway, good luck to you, I can’t engage endlessly with anonymous ppl. We will chat next time you accompany the senior partner to my office in Mumbai.
what a burn. clap clap.
The delayed salary and bonus payments, zero recognition to the younger partners like Amit, poor lateral hires are just a few examples. Even partners like Sundeep Dudeja, and Manan, Bikash still don’t have equity!
I have always wondered what would happen to L&L if RKL (like Nihar Mody or Hemant Sahai) decides to hang up his boots. MS clearly doesn’t have the [...] to handle a firm this big and none of the other partners are ready to give up on the office politics and in fighting for the greater good of the firm.
This can only be turned around if the two senior partners decide to get off their high horse, learn something from the lit partners and cede control!
Until that happens, L&L’s demise seems imminent.
this is from from say deepak joyce setting up djo or someone else setting up something.