Davis Polk Advises The Orogen Group on Its Strategic Investment in EXL
10/4/2018

Davis Polk advised Orogen on its $150 million investment in ExlService Holdings, Inc. Under the terms of the investment, Orogen is purchasing $150 million in aggregate principal amount of 3.50% convertible senior notes due 2024 of EXL, with an initial conversion price of approximately $75.00 per share, and Vikram Pandit, Chairman and Chief Executive Officer of Orogen, is joining EXL’s Board of Directors.

The Orogen Group was created by Vikram Pandit and Atairos as a private operating company focused on making significant long-term control and other strategic investments in financial services and related businesses. EXL is a leading operations management and analytics company that designs and enables agile, customer-centric operating models to help clients improve their revenue growth and profitability.

The Davis Polk corporate team included partner Louis L. Goldberg and associates Brian Russell and Katey Peardon. Partner Mark M. Mendez, counsel Barry J. Gewolb and associate Brent T. Duddie provided capital markets and derivatives advice. Partner Veronica M. Wissel and associate Joseph S. Brown provided executive compensation advice. Partner Pritesh P. Shah provided intellectual property and technology advice. Partner Avishai Shachar provided tax advice. All members of the Davis Polk team are based in the New York office.