Everstone Capital Asia
 | |
| Company type | Private company |
|---|---|
| Industry | Financial services |
| Founded | 2006 |
| Founders | Sameer Sain (Co-founder and CEO) Atul Kapur (Co-founder and CIO) |
| Headquarters | Singapore |
Area served | Worldwide |
Key people | Alok Oberoi (Executive Chairman) Sujoy Bose (CEO, Investment Management) Avnish Mehta (Vice Chairman, Private Equity) Amit Manocha (Group CFO and MD, Private Equity) Prashant Desai (Managing Director) |
| Products | Private equity |
| AUM | $3.1 Billion (2024) |
Number of employees | 425 (2023) [1] |
| Website | www |
Everstone Capital Asia (also known as Everstone), established in 2006, is a private equity firm founded by Sameer Sain and Atul Kapur. Headquartered in Singapore, it operates globally, maintaining offices not only in India and Singapore but also in London, New York City, Mauritius, and United Arab Emirates.[2][3]
History
[edit]The origin of the company can be traced back to Future Capital, a financial services firm that was established by Sameer Sain and Atul Kapur in partnership with Future Group in 2005.[4] Sain and Kapur took over Future Capital's private equity business in 2006 to form Everstone Capital.[5]
At first, the company began its operations in London. Soon after, they rapidly expanded, establishing five additional offices in Singapore, India (Mumbai, Delhi, and Bangalore) and Mauritius. In 2008, it relocated their headquarters to Asia.[6]
In 2018, Everstone opened its office in New York.[7]
Business overview
[edit]In addition to operating in the private equity sector, the company has three other investment verticals;
- Real Estate & Infrastructure: Everstone partnered with the American real estate investment firm, Realterm Group to create IndoSpace Logistic Parks.[8] In 2017 and 2018 respectively, the Canada Pension Plan Investment Board[8][9] and Singapore-based GLP, partnered with IndoSpace to enter the Indian market.[10][11]
- Climate: With Lightsource BP, in 2018 Everstone formed Eversource Capital.[12] The venture manages funds for decarbonization solutions in India, including renewable energy, distribution infrastructure, e-mobility and other green energy services.[13]
- Venture Capital: In 2013, the company formed DSG Consumer Partner, a joint venture with Deepak Shahdadpuri,[14] which invests in early-stage consumer businesses in India and Southeast Asia.[15]
Investments
[edit]| Portfolio companies | Entry Year | Investment in US$ | Exit |
|---|---|---|---|
| Acqueon | 2019[16] | Not Publicly Available | Part exit in 2022 (via stake sale) |
| Burger King - India and Indonesia | 2014[17][18] | $100 million (approx.) | Part exit in 2020 (via IPO) |
| Calibre Chemicals | 2021[19] | $100 million (approx.) | - |
| CPC Diagnostics | 2019[20] | Not Publicly Available | - |
| Everlife | 2019[21] | $500 million (approx.) | - |
| Mediamint | 2016[22] | $100 million (approx.) along with US-based Recognize | - |
| Modern Foods | 2016[23] | Not Publicly Available | 2021[24] |
| Rubicon Research | 2016[25] | $33 million | 2019 |
| S. Chand Group | 2012[26] | $38 million (for 35% stake) | - |
| Sahyadri Hospitals | 2019[27] | Not Publicly Available | - |
| Servion Global Solutions | 2017[28][29] | $70 million (initial investment of $66 million in 2014, follow on investment of $8million in 2017) | - |
| Slayback Pharma | 2020[30] | $50 million (approx.) | - |
| Softgel Healthcare | 2022[31] | $200 million (approx.) | - |
| Subway (master franchise for India, Sri Lanka and Bangladesh) | 2021[32] | Not Publicly Available | - |
| Sula Vineyards | Not Publicly Available[33] | Not Publicly Available | 10% Stake Sold in 2013 |
| Translumina Therapeutics | 2019[34] | $72 million (approx.) | - |
Environmental, social, and governance
[edit]Everstone Capital Asia incorporates environmental, social, and corporate governance considerations into its investment strategies. In August 2021, it became a signatory of the Carbon Disclosure Project.[35]
References
[edit]- ^ "Deal Book Edition III – Inclusive and Sustainable Growth" (PDF). globalprivatecapital.org. Retrieved 20 September 2023.
- ^ Dealbook (2014-08-19). "Former Goldman Executive to Head Southeast Asia Private Equity Firm". The New York Times. Retrieved 2024-04-01.
- ^ Chatterjee, Paramita; Bhushan, Ratna (2012-11-13). "Everstone arm F&B Asia Ventures to acquire Singapore hotel chain Harry's Holdings". The Economic Times. ISSN 0013-0389. Retrieved 2024-04-01.
- ^ Singh, Preeti (2023-11-10). "Everstone Plans to Raise $1 Billion for Its Largest Asia PE Fund". Bloomberg.com. Retrieved 2024-04-01.
- ^ "Don't listen to what people say, merely observe what they do". The Times of India. 2012-01-07. ISSN 0971-8257. Retrieved 2024-04-01.
- ^ Dhanjal, Shrija Agrawal,Swaraj Singh (2016-10-17). "The building of Everstone Capital". mint. Retrieved 2024-04-01.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ Raghavan, Ranjani (13 June 2018). "Everstone Capital opens New York office, makes fresh hires for fundraising". VCCircle. Retrieved 6 August 2024.
- ^ a b Choudhary, Anuradha (16 May 2017). "Everstone Group, CPPIB set up logistics joint venture IndoSpace Core". Mint (newspaper). Retrieved 4 November 2024.
- ^ Nandy, Madhurima (30 January 2023). "CPP Investments invests $205 million in IndoSpace's new fund". Mint (newspaper). Retrieved 4 November 2024.
- ^ Agrawal, Shrija (24 September 2018). "IndoSpace, GLP form JV to co-invest in infra sector". Mint (newspaper). Retrieved 4 November 2024.
- ^ Chew, Elffie; Baigorri, Manuel (2022-04-01). "GLP-Backed IndoSpace Weighing $700 Million Singapore IPO". Bloomberg.com. Retrieved 2024-11-04.
- ^ Dutta, Sanjay (2018-04-18). "Everstone, Lightsource BP float green fund platform". The Times of India. ISSN 0971-8257. Retrieved 2024-11-04.
- ^ Antony, Anto (2024-05-16). "Top Climate Investor in India Seeks to Raise a $1 Billion Fund". Bloomberg.com. Retrieved 2024-11-04.
- ^ Singh Thakur, Angad (14 February 2017). "How Deepak Shahdadpuri's Bets On The Most Unlikely Ventures Paid Off". Forbes India. Retrieved 2024-11-04.
- ^ Singh Dhanjal, Swaraj (27 February 2017). "DSG Consumer Partners achieves final close of $40 million for second fund". Mint (newspaper). Retrieved 4 November 2024.
- ^ Roy, Debjyoti (2022-10-26). "Everstone Capital logs out partially from IT services firm Acqueon". Mint (newspaper). Retrieved 2024-10-01.
- ^ Bagri, Neha Thirani (2014-01-08). "A Growing Taste for U.S. Fast Food in India". The New York Times. Retrieved 2024-04-01.
- ^ "エバーストーン、インドネシア社に出資". 日本経済新聞 (in Japanese). 2014-10-20. Retrieved 2024-04-01.
- ^ "Everstone to acquire controlling stake in Mumbai-based Calibre". Hindu Business Line. 2020-12-06. Retrieved 2024-04-01.
- ^ Singh Dhanjal, Swaraj (2019-03-14). "Everstone buys stake in CPC Diagnostics". Mint (newspaper). Retrieved 2024-11-04.
- ^ Venkat, P.R. (2024-05-13). "Singapore Private-Equity Firm Everstone Capital Mulls IPO For Everlife". Wall Street Journal. Retrieved 2024-08-02.
- ^ Kumanath, K.V. (28 July 2023). "Everstone Capital, Recognize invests in MediaMint". Reuters. Retrieved 26 June 2024.
- ^ Mitra, Sounak (1 April 2016). "Everstone completes acquisition of Modern brand from HUL". Mint (newspaper). Retrieved 4 November 2024.
- ^ "Everstone sells Modern Foods". Hindu Business Line. 24 February 2021. Retrieved 4 November 2024.
- ^ M, Anuradha (25 October 2016). "Everstone buys 70% stake in drug delivery tech firm Rubicon Research". Livemint. Retrieved 26 June 2024.
- ^ "Everstone Capital to invest $38 mln in publishing firm S Chand & Company". Reuters. 13 October 2012. Retrieved 1 April 2024.
- ^ "Everstone to buy controlling stake in Sahyadri Hospitals". mint. 2019-04-07. Retrieved 2024-04-01.
- ^ "Everstone Group increases investment in Servion Global". The Economic Times. 2017-05-25. ISSN 0013-0389. Retrieved 2024-04-01.
- ^ "PEs Everstone, Solmark buy controlling stake in Servion Global for ₹403 crore". Hindu Business Line. 2014-11-20. Retrieved 2024-04-01.
- ^ "Everstone Group to invest up to $50 million in Slayback Pharma LLC". The Times of India. 2020-01-07. ISSN 0971-8257. Retrieved 2024-04-01.
- ^ Suvarna, Anuj (2022-09-14). "Everstone Capital acquires controlling stake in Softgel Healthcare". Mint (newspaper). Retrieved 2024-10-01.
- ^ "Subway inks master franchisee agreement with Everstone Group". Hindu Business Line. 2021-11-02. Retrieved 2024-04-01.
- ^ Singh, Swati; Srivastava, Pallavi (2018). "Sula Wines: A Foray into Uncharted Territory". South Asian Journal of Business and Management Cases. 7 (1): 11–20. doi:10.1177/2277977917751501. ISSN 2277-9779.
- ^ Balakrishnan, Reghu (2019-08-27). "Everstone picks up minority stake in stent company Translumina". The Economic Times. Retrieved 2024-08-02.
- ^ "CDP Investor Signatories 2022" (PDF). Carbon Disclosure Project. 2022. p. 3. Retrieved 1 December 2024.
Further reading
[edit]- Sonja, Cheung (January 2015). "Asia Starts to Embrace ESG Amid Investor Pressure". Private Equity Analyst. Retrieved 1 October 2024 – via ProQuest.
- Bajželj, Ana; Bothra, Shivani (2016). "The Rise of Non-Veg : Meat and Egg Consumption and Production in Contemporary India". In Donaldson, Brianne; Carter, Christopher (eds.). The Future of Meat Without Animals. Rowman & Littlefield. pp. 67–86. ISBN 9781783489077.
- Khudsiya, Zeeshan; Azar, Syed (2018). "Industry-Wise Investment Pattern of Select Private Equity Funds in India". The Journal of Private Equity. 22 (1). Euromonitor: 42–51. JSTOR 26556863.
- Zeeshan, Khudsiya; Azhar, Syed; Murthy, S. Sreenivasa (2019). "Profitability Analysis of Select Private Equity Funds in India". The Journal of Private Equity. 22 (3): 56–63. doi:10.3905/jpe.2019.22.3.056. JSTOR 26864421.
- Gupta, Ashish; Sawhney, Anil; Bajaj, Deepak; Agarwal, Sunil (2017). "Significance of Real Estate Fund Management in India". Journal of Real Estate Literature. 25 (1): 141–168. doi:10.1080/10835547.2017.12090445. eISSN 1573-8809. ISSN 0927-7544 – via Taylor & Francis.
{{cite journal}}: CS1 maint: date and year (link) - Roman, Eduardo (2 August 2021). "Everstone Capital Asia | API Holdings". Global Private Capital Association. New York.
- Kumar Kulshreshtha, Sharad; Kumar, Ashok; Shyllah Passah, Deborah Rose (2023). "Indian Experience in Ensuring Sustainability in Baking Industry". Baking Business Sustainability Through Life Cycle Management. Springer Nature. pp. 147–167. doi:10.1007/978-3-031-25027-9_10. ISBN 978-3-031-25027-9.
- Wu, Kane; Ngui, Yantoultra (30 October 2023). "Everstone hires BDA to sell $1 bln Singapore healthcare services firm Everlife – sources". Reuters. Retrieved 3 September 2024.
- Rebelo, Karen (15 September 2024). Basu, Anand (ed.). "Private equity firm Everstone closes third fund at $730 mln". Reuters. Retrieved 1 October 2024.
- Krishnan, Janaki (21 October 2024). "Everstone Capital plans $1 billion fund to drive mid-market investments in India". The Hindu Business Line. Retrieved 4 November 2024.