Global private equity major Blackstone plans to add $25 billion of Indian private equity assets over the next five years as the country continues to attract global investors, Bloomberg reported.
The New York-based firm also intends to add 20 more investment professionals to its asset management business in India and double its office space in Mumbai, the report added.
“India’s predictable regulatory and policy environment, steady economic growth, and buoyant capital market offer the right opportunity to speed up creating such a large portfolio,” the report quoted Blackstone’s head of private equity in Asia Amit Dixit as saying.
Blackstone already has about $50 billion of private equity and real estate assets in India.
The portfolio in India will be based on three themes: digital infrastructure such as data centres, energy transition including renewables, and transport segments like airports, roads, and ports. The firm will look at investments in export sectors and electronic manufacturing.
In the past, the investor has bet on information-technology services, electric-vehicle components, financial services, and hospital chains among others. Its prominent deals in the country include a majority stake transaction in IT service provider Mphasis and the acquisition of the glass packaging business of Piramal Group.
Blackstone, which is one of the early global investors to enter India, is the largest owner and operator of office properties in India with an office portfolio of 135 million sq ft across 48 assets in seven key cities.
