Zephyr Peacock Management India has held a second close for its third India-focused private equity fund, Zephyr Peacock India Fund III, with US$70 million in capital commitments. The fund will focus on small- and medium-sized enterprises in India and has raised capital from International Finance Corporation (IFC), as well as U.S.-based pension plans and family offices. Additionally, Zephyr Peacock has invested US$9.2 million in Indian prefabricated building components manufacturer Pennar Engineered Building Systems.