India is Blackstone Inc’s greatest funding market on the planet, mentioned the corporate’s Chief Government Officer Stephen Schwarzman throughout an an interplay with the media in Mumbai on Wednesday.
“Now we have huge 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 belongings, is seeking 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 personal fairness fund and a big chunk of that will probably be discovering its means into India, Blackstone officers mentioned. On the anvil can be an infrastructure fund, which may also 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 take a look at the place we’d be within the close to future, I believe we’d all be very shocked on the scale of what we’re doing,” Schwarzman mentioned.
“The prospect of the USA imposing tariffs mustn’t fear India as a result of I believe India is sort 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 the planet who’ve that remedy. And India has already made some adjustments to greater tariff points.”
“And I might 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 personal credit score area. “Now we have 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 mentioned.
