Largest fundraise of 2015 by PE firm Everstone Capital

Q: PE firm Everstone Capital raises $730 million in its 3rd fund.

Govinda,

16th September 2015

Real estate News in Mumbai

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India Value Fund Advisors raised $700 million toward their 5th fund Indium V, earlier this year.. The pace is lifting for firms that are on the road to raise funds. Compared with the total of $800 million raised in 2014, the current year will see a significant bump going by the number of funds that are in the market to collect money, both by means of fund-raising and invested capital.

Karan Manjrekar, Bhiwadi

16th September 2015

Comment

Right Karan,
According to London-based research firm Preqin, 26 Indian private equity funds are currently seeking to raise a total of Rs 33,800 crore.

Sandeep Mhatre, Mumbai

16th September 2015

Local Partners interest in India fund-raise has revived but is selective.Investors who had previously shied away from the Indian market are more confident about the improving macro environment and the bottoming-out of the business cycle.

IDFC Capital are looking to raise $650 million and $500 million, respectively. Other major funds on the road include ICICI Venture's Rs 3,120 crore fund and CX Partners' Rs 2500 crore 2nd fund.

Wasim Mohammad, Pune

16th September 2015

Well Wasim.....
Investors who had backed Everstone previously handed over the majority of the capital, either maintaining or increasing their commitment sizes. A select number of new limited partners also joined.

Limited partners are investors in PE funds. More than 50% of the capital came from North America and about 37% from Europe. The investors are well-diversified and include significant public pension plans, insurance companies, endowments and select asset managers.

V. Victor,

16th September 2015

Comment

@Victor!!!
According to a report by management consulting firm McKinsey, in 2006-07, 13% of Indian PE investments by value were control investments rising to 29% by 2013.

And it is only possible if control investments that allow firms to support an ageing generation of entrepreneurs, making sure of better capital discipline in portfolio companies across volatile cycles, and facilitate easier exits so that firms can renew maturing portfolio.

Wasim Mohammad, Pune

16th September 2015

Because of this strategy drives Everstone Capital, which last week bought bakery business Modern Foods from Hindustan Unilever with a view to turning it around. The company will look for more such deals in the coming year.

V. Victor,

16th September 2015

Hi Govinda,
Everstone Capital by raising $730million in its 3rd fund making it the biggest India dedicated practice by a private equity firm and exceeding the $650-million estimate. Strong demand from investors, most of whom have participated in previous rounds, saw the fund reach its hard cap of $700 million.

Karan Manjrekar, Bhiwadi

16th September 2015

Comment

This reflects the growing comfort global investors have with the India growth story and how select funds with a proven track record are able to draw money in spite of tough fund-raising environment.

Another $30 million came from general partners, fund managers and staff along with group affiliates as per a company release.

Wasim Mohammad, Pune

16th September 2015