Everstone hires 5th senior executive in less than a year

The Singapore-headquartered mid-market firm is strengthening its in-house investment team for its growing business in India.

India and southeast Asia-focused private equity firm Everstone Capital Partners has appointed Rajesh Mehta as an executive director in its private equity team, the firm said in a statement.

Mehta’s appointment is Everstone’s fifth senior appointment since April last year. The firm has been boosting its senior leadership team on the back of its $730 million fundraise in September last year and its store of dry power, which stands at more than $1 billion, a spokesperson from the firm said.

It hired Roshini Bakshi and Rajev Shukla as managing directors in the firm’s private equity unit in April. Before joining Everstone, Bakshi was vice president and managing director at Walt Disney. She had also previously worked for Software, Mattel Toys, Unilever and the Tata Group of Companies. Shukla has more than two decades of operating experience in consumer brands, having served as vice president of Unilever and head of the company’s skin category in southeast Asia, Australia and New Zealand since 2008.

In May, it hired Citibank executive Bhavna Thakur as head of capital markets and exits. Thakur previously worked with Citigroup; Morgan Stanley in Mumbai; Paul, Weiss, Rifkind, Wharton & Garrison LLP New York; and Davis Polk & Wardwell LLP in London.

Earlier this month, former director at Advent International Avnish Mehra joined as a managing director to head Everstone’s new stressed assets business unit. He will also be managing the firm’s investments in healthcare and technology, and media and telecoms (TMT), as reported by Private Equity International.

Mehta brings over 20 years of experience to Everstone. Most recently, he worked with the Ashmore Group for over eight years, leading and advising the group’s India portfolio for private equity and corporate debt. He has previously worked for Indian companies including Tata Sons, HSBC and KPMG.

“As we continue to scout for investment opportunities in the region, we are strengthening our team with leaders who have had deep and varied experience across different asset classes and verticals,” Everstone managing director for private equity Dhanpal Jhaveri said.

“Rajesh, with over two decades of experience in diverse fields, will be an asset to the group and will help assess and focus on opportunities in India, where the appetite for private equity capital is rapidly growing and the economy is expanding strongly,” added Jhaveri.

Everstone has over $3.3 billion in assets under management across three funds. The firm has offices in New Delhi, Mumbai, Bangalore and Singapore.