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Zephyr Management, L.P. is a global private equity and marketable securities firm. Founded in 1994, the firm specializes in the creation and management of highly focused and value added investment funds. Since its founding, Zephyr has sponsored twenty-two investment funds representing approximately $1.4 billion in capital commitments. Each Zephyr fund has a discrete management team which has skills matched to the particular investment opportunity. In December 2008, Zephyr launched Plimsoll Mark Capital, a global wealth advisory firm that focuses on delivering independent high quality investment solutions to individuals and families.
Focus on: Investing in India
On January 6, 2012, Bangalore based portfolio manager Mukul Gulati discussed investment opportunities in India and his outlook on the economic environment. To download the video, please click here. If you would like to request a password to access the video, please click here.
London based portfolio managers Steve Bates and Clive Lloyd discuss their views on the emerging markets (January 2012)
Africa: A Look at Nigeria’s 2011 Elections
Nigeria completed its 2011 elections on April 26th with the gubernatorial and state legislature polls, having held the presidential elections on April 9th and the federal legislature elections on April 16th. The presidential election results were in-line with expectations. The incumbent, President Goodluck Jonathan of the People’s Democratic Party (PDP), was re-elected with 59% share of the 38.2 million votes cast versus Nigeria’s former military ruler, General Muhammadu Buhari of the Congress for Progressive Change (CPC), who won 32% of the votes.
Impact of Size on Equity Valuations in the Indian Market
As most observers of the Indian equity markets know, large capitalization stocks in India trade at significantly higher multiples of earnings and book value than small cap stocks. In fact, this difference in valuations between small and large cap stocks has been a prominent feature of the Indian equity market for many years. Over the last five years, PE ratios of small cap stocks have been 20% to 60% lower than large cap stocks.
Peru’s 2011 Presidential Election
On Sunday, June 5, 2011, Peru’s left-leaning presidential candidate Ollanta Humala won the nation’s presidential elections, surprising investors and prompting a selloff of Peruvian stocks the following day. In the weeks before the election, polls had indicated that the more market-friendly candidate, Keiko Fujimori, would garner the majority of electorate support. To understand where Humala, less mainstream than his opponent, may take Peru, it is important to look at the path he has taken to become president and the potential impact he could have on the Peruvian political process, monetary policy and the corporate sector.