Municipal Capital Appreciation Partners Funds (MCAP)

The MCAP funds invest in distressed and defaulted municipal project bonds and other investments including real estate which can be refinanced with municipal bonds.

Pan-African Investment Partners Funds (Africa)

The PAIP Funds invest in African private sector businesses that operate, or have the potential to operate, across several African countries.

South Africa Capital Growth Fund (S. Africa)

SAGCF was formed to invest in high growth businesses in post-Apartheid South Africa.

Zephyr Internet Partners Fund (ZIP)

ZIP is an early stage venture investment fund for development of technology applications for use by businesses most of which are application service providers.

Zephyr Korea Fund (Korea)

ZK was formed to invest in later stage development capital (i.e., pre-IPOs) opportunities in Korea.

Zephyr Peacock India Funds (India)

The ZP Funds invest in high growth private businesses selling products and services in India and abroad.

ZM Africa Investment Fund (ZM Africa)

ZMAIF was established to invest in high growth business sectors in Southern Africa.

ZN Mexico Trust and ZN Mexico II (Mexico)

The ZNM funds invest in middle market Mexican companies participating in the convergence of the North American economies.

Please note that offices and staff include affiliates and the AUM calculation includes assets attributable to Zephyr's joint venture funds.