Brookfield Asset Management, one of the world’s largest alternative investment firms, is poised to triple or even quadruple its India exposure over the next five years, with expectations to grow its assets under management (AUM) in the country to $100 billion, Connor Teskey, President of Brookfield Asset Management, said in a media interaction in Mumbai.
Teskey said that Brookfield, which has a global portfolio of around $1 trillion, expects this figure to reach $2 trillion or more in the next five years.
“There are so many incredible tailwinds in terms of the Indian market right now. In our minds, it is not unreasonable to suggest that in that same five-year time frame, we could triple or quadruple our business here,” Teskey said. “I very much expect our Indian platform will be a $100 billion business in the near term.”
Brookfield currently manages approximately $30 billion in India across infrastructure, renewable power, real estate, private equity and credit. The Canadian investor’s Indian investments are currently dominated by infrastructure and real estate portfolios, both of which have an AUM of approximately $12 billion, followed by $3 billion in renewable power and transition and $3.6 billion in private equity and special investments.
Bullish on India
Comparing India with other key regions like the US and the Middle East, Teskey said India stands out for its growth potential. “Our growth rates in India are far exceeding those in North America. Our conviction in this market is deep. The platform here could be one of our most important globally in the years ahead.”
Without disclosing exact returns, Teskey said Brookfield’s India investments have either met or exceeded internal targets across asset classes. “We’ve seen very attractive US dollar returns in India for the risk profiles we target—whether it’s infrastructure, real estate, or private equity,” he said.
Despite periodic concerns about valuations, Teskey remains confident. “As long as India stays on its current trajectory—high domestic demand, macro stability, policy support, and increasing international integration—we see no reason why this momentum won’t continue,” he said.
Brookfield’s mega investment themes
Teskey said Brookfield’s investment strategy is driven by what it calls the “three Ds”: decarbonisation, digitalisation, and deglobalisation.
“These are themes that require not just capital, but also scale operating capabilities—something Brookfield brings to the table,” he said.
These trends, while global, are particularly resonant in India, he noted. “India is very much a beneficiary of these shifts. We are seeing an enormous push in clean energy, supply chain resiliency, and digital infrastructure—and we believe this is still just the beginning of a multi-decade runway.”
Teskey added that Brookfield’s model of investing in long-duration real assets that provide essential services—like renewable power, telecom infrastructure, midstream gas pipelines, ports, and real estate—positions it well to tap into India’s rapidly evolving economic landscape.
Infrastructure, energy, and more
While Brookfield has historically focused on core infrastructure and renewables in India, Teskey emphasised that growth going forward would be broad-based.
“Infrastructure more broadly—transportation, utilities, digital infra—offers limitless opportunities. We’re looking at everything from data centres and fibre networks to midstream energy and power generation,” he said.
Though Brookfield currently lacks active exposure to transport infrastructure in India, Teskey clarified that this is circumstantial rather than strategic. “There is no limit to how much capital we would deploy in India. Transportation—roads, ports, airports—is very much on our radar. We just haven’t found the right opportunity yet, but that could change soon.”
Brookfield’s renewable capacity in India has surged from 3-4 GW to over 40 GW in just over two years. “At the time, that projection sounded ambitious, but today, it’s our reality—and we’re not done yet,” Teskey noted.
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The senior Brookfield executive said that he sees natural gas playing a key role in India’s transition. “As the world demands more energy, both clean and conventional sources like gas will be essential. We're continuing to look at midstream opportunities, including in India,” he said.
Private equity
In addition to its infrastructure and real asset portfolio, Brookfield also plans to ramp up its private equity activity in India.
“Our private equity business globally focuses on industrials and critical services, and we are absolutely looking to grow this vertical in India,” Teskey said.
While valuations in certain sectors like healthcare and technology are a challenge in India, Teskey said Brookfield remains focused on situations where it can bring operational value.
“Markets go through cycles. We look for platforms where we can contribute more than just capital—whether it’s scale, efficiency, or global growth capabilities.”
Manufacturing, financial services, and logistics are likely to remain high on the list of priority sectors. Brookfield is also watching trends in supply chain shifts and auto component manufacturing. However, Teskey said the firm remains selective and long-term oriented in its approach.
Also Read: Confident that the telecom market will eventually stabilise: Brookfield
No pause in deployment
Addressing questions about macroeconomic volatility and geopolitical noise—particularly tariffs, rising interest rates, and election-driven policy shifts—Teskey commented that at Brookfield there has been no pause in capital deployment.
“We’re long-term investors in long-term assets. The trends we are investing behind—decarbonisation, digitalisation, deglobalisation—completely overwhelm any short-term noise.”
According to Teskey, mergers and acquisitions will account for the majority of its India portfolio growth. “We do expect M&A to be a significant driver. But our existing platforms will also continue to scale organically,” he said.
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