Despite the recent chaos in the Indian markets after a scathing report on the Adani group from Hindenburg Research, American personal equity significant Blackstone is bullish on the India growth story and plans to invest more in the countrys infrastructure and real estate tasks.
We have a long-lasting view on India, as growth will be greater here.
We have invested half of our Asia exposure in India.
Our amazing performance in India has actually made us bullish, said Jonathan Gray, president and chief running officer of Blackstone.
Picture abhi baki hai, he added in Hindi, discussing Indias growth potential customers.Blackstone, among the largest global financiers in India with $50 billion of investments throughout real estate ($ 20 billion) and a portfolio of other companies ($ 30 billion), is scouting more handle the facilities and realty sectors.Versus the backdrop of accusations against the Adani group, Gray stated Blackstone was comfy with what it was doing in India, and with the underlying principles and cash flows of its investee companies.
There are growing discomforts sometimes with a nation thats moving from an early emerging market status to a more mature one.
We take a longer-term technique.
I believe due to the fact that our financiers have seen a lot success created by our financial investments here, they have not lost confidence (in India), Gray stated.However, he stated, financiers obviously ask concerns when somethings in the headlines every day.
The method we run these companies in India is incredibly expert and transparent.
We follow the highest standards of business governance, whichs what were attempting to generate as finest practices.
I dont believe, at the end of the day, this is going to be a long-lasting impediment to whats going to happen in India.
If anything, it just raises the bar for everyone and forces people to run at a certain standard.
I think, over time, India will continue to make progress in this area.
And as it does, it makes it easier for the capital to come in, Gray said.
I believe India is on that course.
There will certainly be some bumps in the roadway.
When inquired about chances of investing in any Adani group projects, Gray did not comment.
He, nevertheless, said that whenever there was dislocation, it produced an opportunity, as someone may need to sell assets or want to generate partners, which might cause chances for Blackstone.
I dont know in this particular situation whats most likely to take place.
All I would say is, as a company, we have large swimming pools of discretionary capital.
If opportunities emerge, and our capital can be helpful in any circumstance around the globe, were able to do that, Gray said.India is the top performing market worldwide for Blackstone Private Equity with investments in Mphasis, VFS, TaskUs, IBS Software, Xpressbees, Simplilearn.
It sold Aakash education to Byjus in 2015.Blackstone is likewise the biggest owner of business and retail real estate in India, with a portfolio of over $20 billion.
The business wants to scale its real estate portfolio throughout logistics, retail, workplace and data centres.
Its investments consist of Embassy REIT, Nexus Malls, Nucleus Office Parks, Horizon Industrial Parks, and Lumina Data Centres.Blackstone introduced Indias very first retail-focused REIT, following the success of its 2 REITs.
This represents the very first financial investment platform of its kind in India, capitalising on the nations strong usage growth.