According to the bank documents, " the proposed project is an investment in Everstone Capital Partners IV Pte. Ltd., a Singapore limited partnership and/or one or more parallel or alternative investment vehicles which will invest in equity and equity-linked instruments of companies that have significant operations in India and opportunistically in South East Asia."
The Fund is expected to be focused on healthcare and pharmaceuticals (including service, delivery, diagnostics) and tech services (data analytics, tech integration, SaaS etc.). Other potential sectors of exposure include financial services (retail, MSME, asset finance, insurance) and consumer (consumption and durables).
Expected Impact of the Fund is as follows:
(i) Providing access to private equity capital to unlisted mid-cap companies, including in underserved regions.
(ii) Provide capital and operational and financial value add to increase investee growth rates.
(iii) Increased Gender Equality through Manager’s policies at the Fund and investee level.
IFC's role and additionality consists of: (i) own account equity and; (ii) non-commercial risk mitigation
ECP IV has a target fund size of US$950 million. IFC proposes an equity investment of up to US$50 million not to exceed 20% of total committed capital and a co-investment envelope of up to US$10 million.
ECP IV is the successor fund to Everstone Capital Partners III (“Fund III”), a vintage 2016 fund with US$731 million in total commitment, Everstone Capital Partners II (“Fund II”), a 2010 vintage fund with US$580 million in capital commitments and to Indivision India Partners (“Fund I”), US$425 million 2006 vintage fund.
The Fund will be managed by Everstone Capital Asia Pte. Ltd., Singapore, as its investment manager (the “Manager”). The Everstone group was co-founded and is co-led by Sameer Sain and Atul Kapur since 2006
Everstone Capital Asia Pte. Ltd
Mr Sanjay Gujral
Chief Business Officer
#08-01, Singapore 238463
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