Everstone hires Goldman partner as CEO

Brooks Entwistle, who started Goldman Sachs in India, has joined the Indian firm in Singapore

Everstone Capital Partners has hired a new chief executive officer to join Dhanpal Jhaveri in the role as the firm continues to expand.

Brooks Entwistle, formerly a partner and chief executive at Goldman Sachs, will become partner and chief executive of Everstone in Singapore. Entwistle was most recently chairman of Goldman Sachs Southeast Asia and its chief executive in Singapore.

Brooks will oversee the day-to-day management of the firm as well as lead cross border transactions and large deal origination. His appointment expects to alleviate some of the day-to-day responsibilities from Jhaveri and founder Sameer Sain so they can increase their focus on investment opportunities.

“We see it as an expansion of capabilities, bandwidth and senior management in the partnership,” co-chief executive Jhaveri, who is based in Mumbai, told Private Equity International.

Entwistle comes from the US where he studied and worked for a number of years, however he lived and worked in Mumbai for five years as founder and chief executive of Goldman in India before relocating to Singapore with the bank.

“He has been in the Goldman system for a long time, he has been a business leader and has got great relationships within the region so brings in a lot of reach with corporate houses and investors. Having worked in different geographies, having worked with global investors, clearly he has the right skill set for the job,” Jhaveri added.

Entwistle’s appointment has nothing to do with the recent departure of Sachin Chopra, who departed the firm in May for personal reasons, PEI reported earlier. Chopra was a managing director at the firm, with Everstone promoting Singapore-based Amit Manocha to managing director as he departed.

The firm is, however, gearing up to launch a third India-focused private equity vehicle during the second half of this year, industry sources say. Everstone is currently investing from its second private equity fund, which is a $580 Million vehicle that was 50 percent oversubscribed for the final close. The fund is made up of $550 million of external capital and a $30 million GP commitment.