Returned $2 billion, including co-investments, in 5 years: Everstone’s Mehra
MUMBAI : Homegrown private equity firm Everstone Capital has returned almost $1.2 billion through exits in the last five years, a senior official at the firm said in an interview with Mint. The firm has also been backing founders of Indian origin who aim to build global businesses out of the US across healthcare and IT services, which has yielded good returns, said Avnish Mehra, vice chairman – private equity, at Everstone Capital, in an interview. “In the last five years, we have deployed about $600 million and returned to our investors close to $1.2 billion.
Including co-investments, we have returned $2 billion," he said. “In every one of the last five years, we have returned more or the same amount of capital that we have deployed in that year." In recent months, Everstone Capital booked an exit out of IT services business Everise when it sold its stake to Warburg Pincus in October 2023. In 2023, some of its other exits included stake sales in SJS Enterprises in August 2023, and a $180 million partial stake sale in Restaurant Brands Asia, which operates the brand Burger King in India and Indonesia.
The PE firm is also working on exiting its investment in Calibre Chemicals Mint reported last month. Everstone Capital is also working on exiting its stake in Omega Healthcare Management, ET Now reported in March. Everstone Capital is currently investing out of its $300 million fourth fund, which was raised as a bridge fund “Fourth fund was a bridge fund given that the market conditions were tricky with the Ukraine war," he said.
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