PE firm Zephyr invests in Miles Software
New York-based PE firm Zephyr Peacock, which has around $1 billion under management globally, has invested in Miles Software, an IT company providing solutions to the financial services sector.
By N Shivapriya & Shailesh Menon, TNN |
MUMBAI: New York-based PE firm Zephyr Peacock, which has around $1 billion under management globally, has invested in Miles Software, an IT company providing solutions to the financial services sector. The details of the investment were not known. Zephyr���s India MD Mukul Gulati said the private equity firm was bullish on financial services and education in India.
���We believe the current downturn in the financial services is temporary. In long run, we are very bullish on the prospects for financial services in India,��� said Mr Gulati. The firm is raising an India-dedicated fund from which most of its investments will be made.
Unlike majority of overseas funds that are technology-focussed, Zephyr���s areas of interest in the country are financial services and education. ���Our investment in Miles is primarily a financial services investment with a technology component. We don���t view it as an IT investment,��� added Mr Gulati. Miles is a Mumbai-based products firm with solutions in wealth management and related areas.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
