Private equity firm Everstone Group has roped in Suresh Vaswani, a former top executive at IT giants including IBM, Dell and Wipro, to boost its play in the technology sector.
The firm said in a statement that it had "partnered with Suresh Vaswani to co-invest" in the segment. Vaswani will also join as a senior director and work closely with Everstone managing director Avnish Mehra to provide strategic and operational expertise in connection with current and prospective investee companies worldwide, it added.
As part of his duties, Vaswani will sit on the board of two group companies – US-headquartered omnichannel customer experience management firm Servion Global Solutions and Innoveo AG, a Switzerland-based cloud software provider.
He will be based out of the US but will also spend time in India.
“Suresh brings a wealth of global information technology expertise and experience,” said Sameer Sain, chief executive officer of the Everstone Group. “This partnership will strengthen our capability set on the sector as a whole, and specifically on our cross-border investment strategy, where we synergise with our infrastructure in India and South East Asia.”
Vaswani is also on the board of telecom major Vodafone-Idea and is an external advisor to Bain Consulting.
Vaswani has over three decades of leadership experience. He spent more than 20 years at homegrown Wipro, where he signed off as co-CEO of the IT business. After that, he went on to become president of Dell Services before taking up the role of general manager of solutions, delivery and transformation at IBM.
He is an alumnus of Indian Institute of Technology, Kharagpur with an MBA from Indian Institute of Management, Ahmedabad.
Everstone, which has dedicated private equity and real estate funds, was founded in 2006. Its existing offices are located in Singapore, Mumbai, Delhi, Bengaluru, Mauritius, New York and London. The firm currently has $4 billion in assets under management.
