Private equity firm Everstone closes third fund at $730 mln: Reuters

Everstone Capital, a Singapore-based private equity fund and real estate firm focused in India and Southeast Asia, closed its third fund at $730 million, according to a statement.

Everstone said institutional investors had invested $700 million, while the private equity fund itself and its affiliates provided the additional $30 million for the Everstone Capital Partners III fund.

Over half of the capital came from North America, while Europe constituted about 37 percent, Everstone said. Investors included public pension funds, insurance companies, endowments and asset managers.

Among recent investments, Everstone has bought Asia-Pacific payroll business Payfront Technologies Pte Ltd and Hindustan Unilever’s bakery business in India.

Everstone also runs the Burger King franchise in India.