Blackstone expanding credit, infrastructure businesses in India
Blackstone, the global largest alternative asset manager, plans to increase its credit and infrastructure businesses in India with a target of doubling its assets under management (AUM) to $100 billion over the next few years.
Blackstone Chairman and Chief Executive Stephen Schwarzman said the firm intends to grow its global credit and infrastructure vertical businesses into India, in addition to its current private equity and real estate businesses. Blackstone has over $450 billion in credit and $60 billion in infrastructure globally.
The company has found significant infrastructure investment opportunities in India, such as telecom towers and data centers, renewable energy initiatives, and logistics centers. These sectors match India’s increasing need for robust infrastructure to facilitate economic growth.
Blackstone’s interest in India is further established through its latest joint venture with the Sattva Group, submitting applications for India’s largest real estate investment trust (REIT) initial public offering, looking to raise up to ₹62 billion ($712.55 million).
Schwarzman was upbeat on India’s economic path, mentioning its youthful population, technology adaptability, and stable government as the reasons behind a positive investment climate. He highlighted that India’s growth rates continue to be amongst the highest in the world and thus a lucrative destination for large investments.
