India-focused private equity firm Everstone Capital Partners has lost one of the managing directors in its private equity team, Sachin Chopra, a source close to the matter confirmed to Private Equity International.
Chopra left the firm about a month ago for personal reasons. He had previously worked at Warburg Pincus and General Atlantic, before joining Everstone.
A direct replacement has not been identified, the source said, but Everstone has also promoted Amit Manocha to managing director, although Manocha is based in Singapore.
The firm also added an operating partner last year, PEI reported earlier. Carl Harris, a managing director based in Singapore, previously worked at Boston Consulting Group and McKinsey & Co.
Despite losing a key member of its investment team, Everstone has been actively investing across India, and recently secured an investment in Domino’s Pizza Indonesia. The Domino’s deal comes shortly after the firm signed an agreement to bring Burger King to India – a venture in which they could invest up to $100 million.
Most recently in India, Everstone invested INR 100 crore (€12.1 million $16.7 million) for an undisclosed minority stake in Indian fashion brand Ritu Kumar.
Headquartered in Singapore, Everstone Capital Partners has around 140 people working across five offices in Singapore, Mumbai, Delhi, Bangalore and Mauritius.
The firm 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.
Everstone is planning to launch a new vehicle during the second half of 2014.