Sanjay Gujral, previously regional managing director of consumer-focused L Catterton Asia, will join Everstone Group as chief operating officer starting 1 August, according to a statement from Everstone.
Gujral was an executive director at Everstone in India from 2006 to 2011.
Gujral spent more than seven years at L Catterton Asia (previously L Capital Asia). He joined in early 2011 to lead its Indian advisory business and moved into a regional role in Singapore in mid-2012. L Catterton is raising capital for its third pan-Asia buyout fund targeting $1.25 billion, according to a June filing with the US Securities and Exchange Commission.
It is unclear who will replace Gujral at L Catterton.
In his new role as COO, Gujral will work closely with Everstone co-founder Sameer Sain in managing the day-to-day operations of the firm. He will also be involved in investor relations, fund administration, compliance and talent management, a spokesman for Everstone told Private Equity International. He will continue to be based in Singapore and will split his time between Singapore and India. Gujral will take over responsibilities from Sanjoy Chatterjee, who is relocating to New York to become president of Americas and global head of business development for Everstone.
South and South-East Asia-focused Everstone Group opened its office in New York last month as it continues to bulk up its global investor relations team globally as it raises two funds.
The two vehicles are IndoSpace III, the third real estate-focused vehicle from a joint venture it set up with US-based real estate firm RealTerm and the Green Growth Equity Fund, which it launched in April.
IndoSpace III has a target 0f $550 million, while GGEF’s target is £500 million ($670 million; €570 million). The latter has received a £240 million cornerstone investment from India’s National Investment and Infrastructure Fund and the UK government.
The firm has no plans to raise another private equity fund this year and is still deploying capital from the 2014-vintage, $730.5 million Everstone Capital Partners III, the spokesman said.