Momemtum for Make in India growing: Blackstone COO

. With India boasting the highest private equity returns worldwide, Blackstone is doubling down on its investment strategy.

April 4, 2024

The firm plans to inject over US$ 2 billion annually into India over the next five years, recognizing the country's position as the third-largest equity investment market globally

Blackstone's President & COO highlights India's advantage in the shifting Asian supply chains and sees significant growth potential despite its lower GDP per capita

Recent success stories include Mphasis and Sona Comstar, where Blackstone's involvement sparked substantial business transformations

Despite economic uncertainties, Blackstone remains bullish on India's prospects, aiming to ramp up deal activity in 2024

Blackstone, a leading global private equity firm, has pinpointed India as a top investment hub, citing its strong economic fundamentals and favourable government policies. With India boasting the highest private equity returns worldwide, fuelled by a youthful population of 1.4 billion and key reforms like the Goods and Services Tax (GST) and real estate investment trusts (REITs), Blackstone is doubling down on its investment strategy.

The firm plans to inject over US$ 2 billion annually into India over the next five years, recognizing the country’s position as the third-largest equity investment market globally. Jonathan Gray, Blackstone’s President & COO, highlights India’s advantage in the shifting Asian supply chains and sees significant growth potential despite its lower GDP per capita compared to China and the US.

Operating in India for nearly two decades, Blackstone emphasizes active investments, partnering with management teams across sectors like technology, real estate, and financial services. Recent success stories include Mphasis and Sona Comstar, where Blackstone’s involvement sparked substantial business transformations.

With assets under management exceeding US$ 1 trillion in 2023, Blackstone is diversifying beyond traditional sectors into infrastructure and performing credit. The firm’s foray into India’s healthcare sector through acquisitions of leading hospital chains further underscores its commitment to the market.

However, challenges persist in India’s public markets, particularly in privatization and M&A processes, according to Gray. He stresses the importance of regulatory streamlining to unlock the market’s full potential.

Despite economic uncertainties, Blackstone remains bullish on India’s prospects, aiming to ramp up deal activity in 2024. Despite a decline in distributable earnings in the previous year, the firm continues to execute significant transactions globally.

Source: Economic Times

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