To give a push to its fundraising efforts globally, India and Southeast Asia-focused investment manager Everstone Capital has opened an office in New York and made fresh hires at the management level, said a statement on Wednesday.
The development comes close on the heels of media reports on Everstone MD Atul Phull’s departure after a seven-year stint with the PE firm.
Founded in 2006 by Atul Kapur and Sameer Sain, Everstone, which has dedicated private equity and real estate funds, has nearly $4 billion assets under management. It has a team of over 250 professionals based in Singapore, India, Mauritius and London.
The firm’s chief operating officer Sanjoy Chatterjee, who joined Everstone in 2006, will now take on additional responsibilities as president-North America and head of business development. Prior to joining Everstone, Chatterjee worked in the US as an independent consultant, leading business development efforts for CellNet Data Systems. He also spent four years as an engagement manager at McKinsey & Company.
For its New York office, Everstone has appointed Taylor Lawrence as managing director-business development for the Americas. Lawrence joins Everstone from Wellspring Partners, a middle-market private equity firm based in New York, where she headed marketing and investor relations. Previously, she worked at Park Hill’s private equity practice and at Citigroup’s investment banking division in New York.
Navneet Maheshwari has been hired as executive director-business development for the Middle East and Asia-Pacific. Most recently, Maheshwari was a director at bfinance, a global investment consultant based in London. Lina Xiao will work closely with Maheswari out of the Singapore office.
In further reshuffling, William Stadlen, previously based with Everstone in Mumbai has relocated to its London office and will focus on business development in Europe. Shelly Smith will continue to lead the investor relations function out of Singapore.
Lawrence, Maheshwari, Xiao, Stadlen, and Smith will all report to Chatterjee.
In April, Everstone announced setting up a $711 million India-focused green fund along with British solar power company Lightsource BP to invest in Indian power, distribution infrastructure and energy services. It closed its third sector-agnostic but consumer-themed fund, Everstone Capital Partners III LP at $730 million, which was oversubscribed.