India is Blackstone Inc’s finest funding market on this planet, stated the corporate’s Chief Govt Officer Stephen Schwarzman throughout an an interplay with the media in Mumbai on Wednesday.
“We’ve got monumental confidence within the nation and in our personal individuals, ” he stated, including, “Blackstone didn’t have any inflexible quantity of asset allocation for India, however we’re fairly open to how a lot cash we might put right here.”
The world’s largest alternate asset supervisor with over $1 trillion in international belongings, is trying to double its India publicity to $100 billion over the following few years, because it steps up its investments within the nation whereas additionally seeing appreciation in its funding portfolio.
It’s at present elevating round $10 billion in an Asia-focused non-public fairness fund and a big chunk of that shall be discovering its approach into India, Blackstone officers stated. On the anvil can be an infrastructure fund, which may also be used to put money into India’s infrastructure segments comparable to digital infrastructure together with telecom towers, vitality transition and transportation segments comparable to airports, roads, and ports.
“India wants infrastructure, and that is one thing, as an goal, we’d love to do. If we add different actions to what we’re already doing and take a look at the place we’d be within the close to future, I believe we’d all be very stunned on the scale of what we’re doing,” Schwarzman stated.
“The prospect of the USA imposing tariffs mustn’t fear India as a result of I believe India is kind of properly positioned. Prime Minister Modi had an excellent assembly with the President. They agreed to a commerce settlement. There are only a few international locations on this planet who’ve that remedy. And India has already made some adjustments to increased tariff points.”
“And I’d anticipate that the negotiations… I’m not conducting them, so I’m simply anticipating that this could go comparatively properly,” he added.
Credit score area
One other space the place Blackstone is eager to enter India is within the non-public credit score area. “We’ve got a enterprise in credit score that has $450 billion in belongings underneath administration. We expect over time that it’s very logical to convey it right here,” Schwarzman stated.
