Bengaluru, March 23 -- PE firm Multiples Alternate Asset Management is pivoting toward AI-first businesses, trimming exposure to sectors such as voice business process outsourcing and general staffing solutions that could be easily disrupted by technology.

"The moats there are not strong typically," Manish Gaur, managing director at Multiples, who heads the firm's enterprise tech investments, told Mint.

The shift began last year, when the firm sold its majority stake in human resources tech and services player PeopleStrong to the private equity arm of investment banking giant Goldman Sachs. The Mumbai-based company had first invested in PeopleStrong in 2017 from its Fund II, which was sized at $555 million, according to private market d...