Private equity firm Everstone Capital has appointed Roshini Bakshi and Rajev Shukla as managing directors of the company’s private equity team, it said on Monday.
This takes the total number of managing directors to 15. Before the new additions, the PE firm had 13 managing directors, including seven in its pure PE unit, four in the real estate/industrial real estate investment platform besides two as platform resources who look after research and business development.
These senior executives are besides the firm’s four partners and four managing partners, which includes its co-founders Atul Kapoor and Sameer Sain.
The additions especially boosts its sector agnostic but consumer focused PE investment unit which is currently on the road to raise a new fund.
Everstone is looking to raise as much as $700 million in its new PE fund and had last year made first close at $261 million (approximately Rs 1,646 crore) for Everstone Capital Partners III LP. The fund will invest in India and surrounding regions.
Among the new joinees, Roshini is a former vice-president and managing director of Walt Disney and Shukla earlier worked with Unilever. Both will be based in Singapore and will work with the Everstone investments team and portfolio companies.
Roshini has over two-and-a-half decades of experience in driving consumer businesses and was responsible for the consumer, licensing and retail business in India and South Asia at Walt Disney. Earlier, she worked with the companies like Mattel Inc and ICICI Prudential AMC Ltd.
An MBA from IIM Ahmedabad, she also serves as an independent director on the boards of Persistent Systems Ltd and JM Financial Services Ltd in India.
Shukla, who started his career with Unilever, has over two decades of operating experience across the globe. He has been serving as a senior member of Unilever’s global skin category leadership team since 2008 and most recently led the global skin care strategy and business development.
He is an engineer from IIT-BHU and MBA from IIM Calcutta.
“Their combined experience includes working with some of the world’s largest consumer businesses and we believe, their expertise can add immense value to our portfolio companies, and are confident of deriving significant growth and impact using their insights and experience,” said L Brooks Entwistle, partner and CEO, Everstone Group.
Entwistle himself came on board last August. He was previously a partner at Goldman Sachs where he spent 22 years in various capacities, including 15 years based in Asia. Most recently, he was chairman of Goldman Sachs Southeast Asia as well as CEO of Goldman Sachs Singapore. Prior to this, he spent five years in Mumbai as CEO of Goldman Sachs India where he was responsible for leading and building the firm across all divisions.
(Edited by Joby Puthuparampil Johnson)