MUMBAI: private equity giant Black stonewhich manages nearly $1 trillion in assets globally and is India’s largest private equity investor, has maintained its views on the country even as reports about Adani Group are leading its investors to ask questions about their exposure here.
Blackstone sees the market turbulence as an opportunity as it has large pools of discretionary capital. “This will not be a hindrance to what is happening in India in the long run. When these things happen, they raise the bar for everyone and force people to operate to a certain standard. Over time, India will continue to advance in this area,” said the president and chief operating officer of Blackstone Jonathan Gray he said in a media interaction during his visit here.
On whether Blackstone saw an opportunity as a result of struggling companies seeking investment, Gray said: “If opportunities arise and our capital can be useful in any situation around the world, we are able to do that, but there’s nothing specific here.”
Blackstone is one of India’s largest global investors with investments worth $50 billion, including $20 billion in real estate, including shops, stores, warehouses and data centers. India is the group’s second largest investment destination outside the United States after the United Kingdom.
According to Gray, in the current environment, The presence of Blackstone it would be beneficial for Indian markets. “We can be very helpful because the way we run our companies is incredibly professional, transparent and with the highest standards of corporate governance,” she said.
“We believe in growth here and think the trends are still pretty good. I guess the only headwind would be that some tech-oriented companies will be a little more cautious about their expansion this year. But I view it as a short-term phenomenon and the long-term growth megatrends are still intact,” Gray said.
On the opportunities in India, Gray said he would like to repeat the statement he made during the ET Global Business Summit in 2019, where he summed up the opportunity in India as “Picture abhi baki hain.”
According to Gray, the short-term challenges are due to excessive valuations and excessive hiring, which have gotten out of hand. However, the megatrends of innovation and the use of technology in enterprises would continue. “So for the next year or two, they might rent a little less space in our parks in Bangalore, Hyderabad and Pune. But over time, the demand for these kinds of services in the technology-related space will continue.
Gray said he saw an opportunity in the infrastructure space in India and that the first step would likely be in energy infrastructure.
Blackstone sees the market turbulence as an opportunity as it has large pools of discretionary capital. “This will not be a hindrance to what is happening in India in the long run. When these things happen, they raise the bar for everyone and force people to operate to a certain standard. Over time, India will continue to advance in this area,” said the president and chief operating officer of Blackstone Jonathan Gray he said in a media interaction during his visit here.
On whether Blackstone saw an opportunity as a result of struggling companies seeking investment, Gray said: “If opportunities arise and our capital can be useful in any situation around the world, we are able to do that, but there’s nothing specific here.”
Blackstone is one of India’s largest global investors with investments worth $50 billion, including $20 billion in real estate, including shops, stores, warehouses and data centers. India is the group’s second largest investment destination outside the United States after the United Kingdom.
According to Gray, in the current environment, The presence of Blackstone it would be beneficial for Indian markets. “We can be very helpful because the way we run our companies is incredibly professional, transparent and with the highest standards of corporate governance,” she said.
“We believe in growth here and think the trends are still pretty good. I guess the only headwind would be that some tech-oriented companies will be a little more cautious about their expansion this year. But I view it as a short-term phenomenon and the long-term growth megatrends are still intact,” Gray said.
On the opportunities in India, Gray said he would like to repeat the statement he made during the ET Global Business Summit in 2019, where he summed up the opportunity in India as “Picture abhi baki hain.”
According to Gray, the short-term challenges are due to excessive valuations and excessive hiring, which have gotten out of hand. However, the megatrends of innovation and the use of technology in enterprises would continue. “So for the next year or two, they might rent a little less space in our parks in Bangalore, Hyderabad and Pune. But over time, the demand for these kinds of services in the technology-related space will continue.
Gray said he saw an opportunity in the infrastructure space in India and that the first step would likely be in energy infrastructure.
