Ex-Advent executive Avnish Mehra joins Everstone

Mehra will contribute to Everstone's investments in healthcare, telecom and media. He will also head the firm's new special situations vertical, which will seek investment opportunities in stressed businesses in India.

During his time at Advent, Mehra founded the firm's India business and led several notable transactions, including Advent's $105 million purchase of CARE Hospitals in 2012 (which the firm exited to the Abraaj Group in January). Mehra also led Advent's purchase last year, alongside Temasek, of a 34% stake of Crompton Greaves Consumer Electricals, the former consumer products unit of Crompton Greaves.

Before joining Advent in 2006, Mehra worked at NTL as a director of strategy and planning and led a small and medium-sized enterprise telecoms division. He has also worked on the leveraged finance team at CIBC World Markets.

Everstone closed its third India fund in September at $730 million, exceeding the hard cap of $700 million. The fund focuses on Indian businesses, as well as overseas businesses that benefit from Indian domestic consumption, and takes a sector-agnostic investment approach. It currently has $3.3 billion in assets under management.

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• Topics
• South Asia
• Credit/Special Situations
• People
• India
• Everstone Capital