Private equity firm Everstone Capital has appointed Avnish Mehra as a managing director in its private equity business.
Mehra will also lead Everstone’s special situations vertical that includes stressed assets, according to a press statement.
He has about 18 years of experience, working mostly with global investment firms across sectors such as healthcare, telecom and media in Asia and Europe. In the recent past, he founded the India business of Advent International where he led investments in companies including Care Hospitals, Crompton Greaves, CIBIL and CAMS.
“His strong background in both private debt and private equity will enhance our ability to do complex transactions,” said Sameer Sain, co-founder and managing partner at Everstone Group.
Mehra graduated in economics from St. Stephen’s College, University of Delhiand has a postgraduate degree in economics from Cambridge University. He is also a certified financial analyst from the CFA Institute, US.
At Advent, Mehra led investments in companies including Care Hospitals and Crompton Greaves
Singapore-headquartered Everstone has assets under management of $3.3 billion. It has around 200 people working across Mumbai, Delhi, Bangalore and Mauritius. Its PE unit has nine other managing directors in India and Singapore, apart from senior executives at partner or managing partner levels.
In September last year, Everstone Capital Asia announced the final close of its third sector-agnostic but consumer-themed fund, Everstone Capital Partners III LP, at $730 million. This included $700 million of Limited Partner capital from institutional investors and $30 million from Everstone and its affiliates.
The fund is one of the biggest India-focused PE funds to be raised in recent times. It will invest in consumer goods and services including healthcare, education and financial services.
Last year, the India- and Southeast Asia-focused PE firm acquired Aon Hewitt’s payroll processing in Asia for an undisclosed amount and Modern Foods from Unilever.