Everstone rejigging PE business; CX Partners may invest in womenswear brand Soch

Everstone rejigging PE business; CX Partners may invest in womenswear brand Soch

Everstone Capital is restructuring its private equity business and its organisational review system, Mint reported, citing two people aware of the development.

The firm is being advised by UK-based consultant Kiddy & Partners on the restructuring of its private equity business, the report said.

Everstone has made some changes in the senior management as a result of this exercise and will make more changes at the middle, associate and analyst levels, the financial daily said, citing a letter sent by the private equity firm to its investors.

Everstone has lost some top executives in recent months but has also hired a few. Managing directors Atul Phull and Prateek Dhawan quit the firm over the past few months. In July, Everstone had appointed Sanjay Gujral as its chief operating officer.

In June, the firm had opened an office in New York https://www.vccircle.com/everstone-capital-opens-new-york-office-makes-fresh-hires-for-fundraising/.

In a separate development, homegrown private equity firm CX Partners is ahead of other suitors to pick up a stake of around 30% in womenswear brand Soch, The Times of India reported.

The PE firm may buy the stake in Bengaluru-based Soch Apparels Pvt. Ltd for over Rs 300 crore, the report said.

Soch sells its products through more than 100 exclusive brand outlets across 39 cities. It also retails through Central and Shopper’s Stop chains, according to its website.

[“source=forbes]