Everstone Capital has opened a new office in New York and hired personnel to expand its fundraising efforts globally, the India- and Southeast Asia-focussed investment manager said in a statement on Wednesday.
The firm’s chief operating officer Sanjoy Chatterjee, who joined Everstone in 2006, will now have an additional responsibilities as president-North America and head of business development.
VCCircle reported on Tuesday that Atul Phull, Everstone’s previous head of business development and investor relations, had resigned from the firm last month.
Everstone, which has dedicated private equity and real estate funds, was founded in 2006. Its existing offices are located in Singapore, Mumbai, Delhi, Bengaluru, Mauritius and London. The firm currently has $4 billion in assets under management.
For its new New York office, Everstone has hired Taylor Lawrence as managing director-business development for the Americas.
Navneet Maheshwari has been roped in as executive director-business development for the Middle East and Asia-Pacific.
Everstone said Lina Xiao, who handles capital raising, will work closely with Maheshwari out of the Singapore office. William Stadlen has relocated to Everstone’s London office and will focus on business development in Europe, according to a statement provided by the firm.
Besides co-founders Sameer Sain and Atul Kapur, Everstone’s top management includes the chief of PE business unit, Dhanpal Jhaveri, and the head of the realty investments unit, Rajesh Jaggi.
In April, Everstone Group formed an equal joint venture with British solar power company Lightsource BP to set up a £500 million ($710 million or Rs 4,673 crore) India-focussed green energy fund.
It had last raised $730 million in its third sector-agnostic but consumer-themed fund, Everstone Capital Partners III LP. The PE firm was aiming to raise $650-700 million in the fund and had closed it with an oversubscription.
An Everstone spokesperson said there were no immediate plans to launch a new fund.
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