Zephyr Peacock targets Rs 375-crore PE fund

Zephyr Peacock, the India-focussed private equity fund of US-based Zephyr Management, is looking to raise $75 million (Rs 375 crore) as part of its second fund raising in India. Zephyr Peacock is seeking to raise the fund for equity and equity-related investments in growth capital opportunities in high-growth small and medium enterprise, including those outside the Indian metros — a relatively underserved segment of the market.

According to Zephyr, the fund targets investments in financial services, education and consumer-related businesses, high value-added manufacturing and infrastructure-related services. Zephyr takes influential minority positions by investing $5 to $20 million in companies that have proven business models, strong financial performance and are led by strong management teams. Zephyr Peacock from its first fund has made investments in Time Technoplant (polymer products firm), WLC India (a vocational training provider), Maxop Engineering (die-casting firm) and Miles Software (a financial software firm).

The fund is a Cayman Islands exempted limited partnership, and will operate primarily through one or more subsidiaries formed in the Republic of Mauritius, which will acquire, own and operate the portfolio of investments. The Fund Manager is based in Bangalore and New York.

Zephyr Management, L P is a global private equity and marketable securities firm. Founded in 1994, the firm specialises in the creation and management of focussed and value added investment funds.

Since its founding, Zephyr has sponsored 21 investment funds across the developed and developing world, representing approximately $1.4 billion in capital commitments.