Zephyr Peacock targets $150 million for third fund
New York-based Zephyr Management’s India-focused PE arm, Zephyr Peacock, is set to raise a $150 million fund – its third and largest – targeting global investors.
According to a source with knowledge of the fund, overseas HNIs and institutional investors such as fund of funds will be tapped to finance the new vehicle. Zephyr Peacock's previous funds, the Zephyr Peacock India Fund I with a $100 million corpus and the Zephyr Peacock India Fund II with $75 million, have focused on taking influential minority positions in SMEs by investing between $5-$20 million. This strategy will serve as its investment model for its new fund. While the fund will likely be sector-agnostic, areas such as the infrastructure and financial services industries will remain key investment domains.
According to Zephyr Peacock's website, its first two funds are closed for subscriptions, while reports suggest that its Fund II is only one-fifth invested. The firm has invested in companies including aluminum auto-part designer and maker Maxop Engineering, vocational training provider WLC India and IT server Trimax IT Infrastructure and Services.
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