Transactional lawyer Viral Mehta, who was a senior equity partner at S&R Associates, has moved to Nishith Desai Associates (NDA) to lead that firm’s private equity and financial services regulatory practice in Mumbai.

Mehta has 25 years of experience specialising in private equity, mergers and acquisitions, restructurings, and joint ventures. Before joining S&R in 2017 as the firm’s first lateral partner hire, Mehta co-founded A&M Law Offices in 2005.

“As a strategy-driven, India-centric global law firm with a strong presence in private equity and financial services, we are thrilled to welcome Viral. His proven track record in building high-performing teams and attracting both prestigious clients and top-tier legal talent is perfectly aligned with our firm’s values and vision,” said NDA’s founding partner Nishith Desai in a statement.

The hire comes as India’s private equity and venture capital markets show signs of stabilisation, with over $23 billion recorded in investments in 2024 so far - indicating the market is gradually finding its footing after a year of correction and recalibration, according to a Bain & Company report.

Mehta is NDA’s first lateral partner hire of the year, following the departures of investment funds lead Nandini Pathak, co-head of tax and tax litigation practice Dhruv Janssen-Sanghavi, and head of employment Vikram Shroff.

S&R has been busy in the lateral partner market this year, adding a six-member real estate team from IndusLaw led by Avishkit Moral, projects partner Aakanksha Joshi from Economic Laws Practice and banking and finance partner Aparna Ravi from Samvad Partners.

The firm has also seen a few exits in 2024, with banking and finance partner Divyanshu Pandey joining JSA Advocates & Solicitors, and M&A partner Mohit Gogia joining Cyril Amarchand Mangaldas.