Gravitas Cites Growth Of Co-Sourcing Business In Move To New, Larger India Office
NEW YORK, April 16, 2013 /PRNewswire/ — Gravitas, a co-sourcing platform providing cloud technology, collaborative outsourcing, risk support and research to the alternative investment industry, today announced that increasing demand for its services, including its co-sourced risk management offering, has led to the expansion of its India presence, including a move to new, larger offices in Mumbai.
“The alternative asset management industry has entered an era of expansion as firms compete for capital while addressing the demands of an increasingly institutional clientele in the most heavily regulated environment ever,” said Gravitas CEO Jayesh Punater. “Hedge funds and private equity firms are responding to these challenges by embracing operational efficiency through the innovative use of people, processes and technology. The result is a greater demand than ever for powerful ways of partnering with service providers on data management, analytics and high-quality risk reporting, which is at the heart of our co-sourcing and hosted services model.”
This expansion into new, larger offices in India follows the integration of IBM Algorithmics as the risk engine behind Gravitas’s Risk-as-a-Service offering, a key area of focus for the India team. Gravitas’s growing India team of 70 employees, up 110% from a year ago, will occupy a brand new building called Times Square, featuring state-of-the-art services and amenities. The modern Times Square building is proximate to domestic and international airports as well as the Mumbai center of the Indian Institutes of Technology and the National Stock Exchange. Gravitas expects to make additional hires in the coming months. Overall, Gravitas saw revenues grow by 50% in 2012, reflecting strong demand for its cloud, risk reporting and risk co-sourcing platforms.
Punater added, “As buy-side firms focus on tackling the issues of scale, transparency and increased regulation, their need for peak efficiency across risk, operations, cloud computing and research has become mission-critical. Our growing staff and world-class facilities in Mumbai allow us to provide a robust managed services platform with around-the-clock reliability to level the playing field for smaller funds while enabling larger funds to scale their businesses more effectively.”
HFMWeek named Gravitas as the ‘Best Overall Technology Firm’ in its US Hedge Fund Services Awards in 2012.
Gravitas is a leading co-sourcing(TM) platform providing cloud technology and collaborative outsourcing for investment support and middle office services to the alternative investment industry. Founded in 1996, the company provides hedge funds, private equity funds and other alternative asset managers with unique and flexible co-sourced offerings for systems integration, technical support, risk analytics, software development, investment operations, investment research support and more. From co-sourcing and advisory through implementation, Gravitas designs creative solutions that give clients the operational freedom to invest, innovate, and scale. The company is based in New York with offices in Chicago, Greenwich, Mumbai and Ahmedabad, India. www.gravitas.co