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Blackstone betting big on India-its most profitable market

That apart it has two REITs, making it the largest owner of office, real estate and a leading player in the retail and logistics space.

Blackstone

Blackstone

Holding over USD 50 billion in assets under management already, the Wall Street major Blackstone is increasing its bet on the country, promising to pump in more dollars than it has already invested in the past decade, going forward.

For the American alternate investment management giant with close to USD 620 billion in AUMs globally, India is its most profitable market in terms of returns -- its seed investment of around USD 25 billion is worth over USD 50 billion at present, according to co-founder, chairman and chief executive Stephen A Schwarzman.

In the past decade, Blackstone has invested more than USD 22 billion in the country and some of its existing investments include Mphasis, (its largest investment so far-- USD 2 billion already invested and an additional USD 2.8 billion commitment), Nexus Malls, edutech player Aakash, the largest specialty glass packaging maker Piramal Glass (USD 1 billion), global leader in recyclable packaging tubes Essel Propack, and largest independent affordable housing finance company Aadhar, Prestige commercial and retail portfolio for USD 1.6 billion among others.

That apart it has two REITs, making it the largest owner of office, real estate and a leading player in the retail and logistics space. Last year, it launched Asia's largest and the country's first two REITs.

India is the most successful investment destination for the firm. The company anticipates investing more in the next 10 years that it has already invested in the previous period, Schwarzman told
PTI
first published: May 3, 2021 08:32 pm

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