IFC commits USD 60 mn to Everstone's new PE fund

Mumbai, Nov 11 (PTI) The International Finance Corporation (IFC) on Tuesday announced a USD 60 million investment in Everstone Capital's new private equity fund.

The commitment to Everstone Capital Partners V comes on top of USD 100 million invested in the domestic entity's earlier funds, as per an official statement.

The new commitment of USD 60 million will be in the fund, which will invest in mid-market companies across healthcare, technology, consumer goods, and financial services in India and Southeast Asia, as per the statement.

"Mid-market companies are central to IFC's strategy to advance job creation, economic resilience, and sustainable growth in India and Southeast Asia. Our partnership with Everstone is grounded in a shared mission to mobilise long-term private capital and drive innovation across priority sectors," IFC's global director for disruptive technologies, services and funds, Farid Fezoua, said.

Everstone group's Chief Executive and Co-Founder Sameer Sain said it has had a long-standing association with IFC, courtesy the shared commitment to combining financial discipline with impact.

"From supporting our private equity platforms to investing in sustainable infrastructure, IFC has consistently engaged as both a capital provider and a strategic partner," Sain added.

The two partners are building businesses that not only generate strong returns, but also advance innovation, inclusion, quality job creation, and energy transition across emerging markets, Sain said. PTI AA TRB