India is Blackstone Inc’s greatest funding market on the planet, mentioned the corporate’s Chief Govt Officer Stephen Schwarzman throughout an an interplay with the media in Mumbai on Wednesday.
“We have now monumental confidence within the nation and in our personal individuals, ” he mentioned, including, “Blackstone didn’t have any inflexible quantity of asset allocation for India, however we’re fairly open to how a lot cash we’d put right here.”
The world’s largest alternate asset supervisor with over $1 trillion in world property, 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 presently elevating round $10 billion in an Asia-focused non-public fairness fund and a big chunk of that can be discovering its method into India, Blackstone officers mentioned. On the anvil can be an infrastructure fund, which may even be used to put money into India’s infrastructure segments akin to digital infrastructure together with telecom towers, power transition and transportation segments akin 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 have a look at the place we’d be within the close to future, I feel we’d all be very shocked on the scale of what we’re doing,” Schwarzman mentioned.
“The prospect of the US imposing tariffs mustn’t fear India as a result of I feel India is sort of nicely positioned. Prime Minister Modi had an excellent assembly with the President. They agreed to a commerce settlement. There are only a few nations on the planet who’ve that remedy. And India has already made some modifications to greater tariff points.”
“And I’d anticipate that the negotiations… I’m not conducting them, so I’m simply anticipating that this could go comparatively nicely,” he added.
Credit score house
One other space the place Blackstone is eager to enter India is within the non-public credit score house. “We have now a enterprise in credit score that has $450 billion in property underneath administration. We expect over time that it’s very logical to carry it right here,” Schwarzman mentioned.
