Gravitas moves to larger office in Mumbai
Gravitas is expanding its presence in India, including moving to a new larger office in Mumbai, prompted by an increase in demand for its services. Gravitas is a co-sourcing platform providing cloud technology, collaborative outsourcing, risk support and research to the alternative investment industry.
“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,” says Gravitas CEO Jayesh Punater (pictured). “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 close to domestic and international airports as well as the Mumbai centre 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 says: “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.”
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