Everstone Capital raises USD 730 million in the third fund
Q. Which company has raised USD 730 million in the third fund, making it the largest Indian dedicated exercise by a PE firm and also exceeding the USD 650 million estimate on 16th September 2015?- Published on 17 Sep 15a. Blackstone Capital
b. Everstone Capital
c. Warburg Pincus
d. Morgan and Chase
ANSWER: Everstone Capital
Over 50% of the capital is from N. America. 37% is from Europe. Global investors participated in the previous rounds causing hard cap to reach USD 700 million. General partners, fund managers and staff with group affiliates added another INR 30 million. This is the largest fundraise in the year 2015 so far. In 2006-2007, 13% of Indian PE investments by value were control investments increasing to 29% by 2013, as per a report by management consulting firm McKinsey.
There is a massive increase from 2014 where only total of USD 800 million was raised. India’s Everstone Capital is a SE PE focused real estate investment group. It has recently acquired HUL’s Modern Foods for INR 250 crore and sold controlling stake in Global Hospitals to IHH-Parkway recently.
