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In April 2018, we announced teaming up with the Everstone Group, one of India’s leading private equity funds, to create a major fund management platform for green energy infrastructure in India to be called EverSource Capital.
International partnership, local benefit
EverSource Capital, based in India and staffed by employees from both partners, manages funds targeting contracted power, distribution infrastructure and energy services in India. The JV provides the funds with the financial and strategic resources of the partners aiming to create successful green energy businesses in partnership with local management teams.
Being part of Green Growth for the future
The launch fund for EverSource Capital is the Green Growth Equity Fund (GGEF), which has a fundraising target of £500m and joint anchor investments from the UK Government and the India’s National Investment and Infrastructure Fund (NIIF), with a commitment of £120m each. UK and India contributions are investments that will generate returns for each country. The GGEF is set up as an Alternative Investment Fund (AIF) under India’s Security and Exchange Board of India (SEBI) Regulations, 2012, and aims to raise funds from international institutional investors.
These investments will be deployed into areas such as renewable energy, clean transportation, water and waste management, emerging technologies and sectors that feed into the above areas in India, which offer significant investment opportunities and potential for attractive returns.
Investing in India
The Fund is based in Mumbai (India) and shall invest in scalable operating companies and platforms across renewable energy, energy efficiency, energy storage, e-mobility, resource conservation and associated value chains. EverSource Capital provides global investors an opportunity to invest in the Indian green infrastructure, alongside a global industrial leader and established regional fund manager.