Zephyr Management, L.P.
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| File:Zephyr management | |
| ISIN | 🆔 |
|---|---|
| Industry | Investment Management |
| Founded 📆 | 1994 |
| Founder 👔 | Thomas C. Barry |
| Headquarters 🏙️ | New York, U.S. |
Area served 🗺️ | |
| 💎 AUM | US$1.3 billion (2021) |
| Members | |
Number of employees | |
| 🌐 Website | https://www.zmlp.com/ |
| 📇 Address | |
| 📞 telephone | |
Zephyr Management, L.P. (Zephyr) is a global emerging markets investment manager, specializing in the creation and management of highly focused private equity funds. The firm is headquartered in New York and has offices in Bengaluru, Nairobi, and Colombo.
Zephyr has sponsored and/or managed 27 investment funds in both public and private securities markets representing approximately US$ 1.3 billion in combined commitments and assets under management. The firm has provided capital and management support to 95 companies across emerging markets.
History
Founding
Zephyr was founded in 1994 by Thomas C. Barry, former CEO and President of Rockefeller & Co., with the aim to support development in informal economies; specifically in job creation, skills enhancement and developing local ownership of businesses. Since inception, the firm has launched funds in Korea, Mexico, Sri Lanka, India and pan-Africa.
1990's
Zephyr launched investment operations in South Africa in 1995. The firm co-founded the first post-apartheid South African private equity fund, the South Africa Capital Growth Fund (SACGF).[1]. SACGF invested in consumer, service and IT companies in South Africa that benefited from the newly enfranchised black middle class, both as customers and employees. SACGF’s investments included equity interests in manufacturing, transportation, business technology services, security, retailing, media, and health care companies.
In the face of the Asian financial crisis in 1997, Zephyr established the first foreign private equity firm in Korea. Zephyr Korea (ZK) intended to participate in the increasing trend towards deregulation of the Korean capital markets and the adoption of Western-style corporate practices such as focused and profit-oriented management and transparent governance by Korean businesses. ZK sought to achieve significant capital gains by making privately negotiated equity investments in small and medium-sized Korean companies and by purchasing interests in existing Korean private equity funds at a discount to net asset value in the secondary market.
In 1998, Zephyr established the first private equity firm in Mexico after the establishment of the North American Free Trade Agreement (NAFTA). ZN Mexico Trust (ZNM) and ZN Mexico II, L.P. (ZNM II)[2], made private equity investments in middle market companies in Mexico participating in the growth opportunities created by NAFTA.
In 1999, Zephyr established the first foreign private equity firm in Nigeria.
2000's
In 2000, Zephyr became the manager of, ZM Africa Investment Fund (ZMAIF)[3], the first regional private equity fund in the Southern African Development Community (SADC) region. The fund focused on high growth business sectors in liberalized African markets in the SADC region.
In 2003, Zephyr launched the first pan-Africa fund, Pan-African Investment Partners I, L.P. (PAIP I) and subsequently Pan-African Investment Partners II, L.P. (PAIP II)[4] in 2008, to make private equity investments across Africa. The funds invested in businesses that were expanding regionally in Africa through organic growth or acquisition.
Zephyr Peacock India was launched in 2006 in Bengaluru to provide growth capital and management support to small and mid-sized enterprises (SMEs) in India. The Zephyr Peacock Funds seek to invest in fast growing, innovative businesses in financial services, food & agriculture and infrastructure ancillaries sectors[5]
2010's
Zephyr, in partnership with NDB Capital Holdings, launched Emerald Sri Lanka Fund (Emerald Fund), the first Sri Lanka focused private equity firm, in 2015.[6] Emerald Fund seeks to invest in fast growing small and mid-sized enterprises (SMEs) in Sri Lanka, that are led by promising entrepreneurs and strong management teams.
In 2016, Zephyr launched the Zephyr Acorn Funds in East Africa. Zephyr Acorn provides angel and venture investments in companies that apply technology to address challenges to lower middle-income participants in the informal economy.[7]
In 2018, Zephyr Management was appointed successor manager of the African Agricultural Capital Fund L.L.C. (AACF). Originally formed in 2011, AACF called approximately US$ 20 million to invest in eight companies involved in various aspects of agriculture in Uganda, Kenya, and Malawi.
2020's
In 2020, Zephyr partnered with Waterfield Advisors to launch Zephyr Waterfield Investment Advisory (ZW). ZW provides wealth management services to help ultra HNIs to diversify portfolios across global asset classes.[8]
References
- ↑ Sylvester, Dawn; Egeli, Fuad (2000). "Selling Africa to the World: The Emergence of Private Equity in Sub-Saharan Africa". The Journal of Private Equity. 3, No. 3 (Summer 2000) (3): 27–53. doi:10.3905/jpe.2000.319968. JSTOR 43504216. Unknown parameter
|s2cid=ignored (help) - ↑ Meikle, Brad (2000-04-17). "ZN Mexico Capital Closes on $77M". Buyouts. Retrieved 2021-12-09.
- ↑ "Zephyr and Cycad deal underlines Africa's investment potential". www.iol.co.za. Retrieved 2021-12-09.
- ↑ www.bloomberg.com https://www.bloomberg.com/news/articles/2011-05-04/kingdom-zephyr-expands-in-nigeria-as-carlyle-vital-raise-african-funds. Retrieved 2021-12-09. Missing or empty
|title=(help) - ↑ Ahmad, Samreen (2020-09-21). "PE fund Zephyr Peacock eyes 12 investments from $100-mn third fund". Business Standard India. Retrieved 2021-12-09.
- ↑ Chanchani, Madhav. "Zephyr charts $50-million Sri Lanka plan". The Economic Times. Retrieved 2021-12-09.
- ↑ "The Capital Quest | Kenyan school finance firm Ed Partners gets funding from Acumen, I&P, Zephyr". The Capital Quest. 2021-06-21. Retrieved 2021-12-09.
- ↑ "Waterfield expects $5 billion AUM in 2 years; launches global platform with Zephyr". The Economic Times. Retrieved 2021-12-09.
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