Key Facts:
Blackstone is an American alternative investment management company based in New York City.
The company has more than US$1 trillion in total assets under management, making it the world’s largest alternative investment firm.
Prime Highlights:
Blackstone’s CEO, Stephen Schwarzman, declared India as the top-performing market for the firm globally, surpassing initial expectations set when the company first invested in the country in 2005.
Schwarzman revealed Blackstone’s ambitious plan to double its total exposure in India to $100 billion in the future, reflecting confidence in the country’s growth potential.
Key Background:
India continues to be the leading market for the global private equity firm Blackstone, with CEO Stephen Schwarzman expressing strong optimism for the country’s future growth. In an exclusive interview, Schwarzman emphasized that India has surpassed the firm’s initial expectations, with Blackstone’s total investment now significantly exceeding its original $1 billion commitment made in 2005.
“Twenty years ago, the idea of investing $1 billion in India was groundbreaking. Today, Blackstone’s presence is much larger, reflecting the incredible potential of this market,” Schwarzman said. Schwarzman further revealed that the company plans to double its exposure to India, aiming to reach $100 billion in investments in the near future.
Blackstone’s success in India has been built on its strategy of developing businesses and driving growth, rather than just holding stakes. “We are the largest private equity firm in India and the largest foreign company operating here,” Schwarzman noted, highlighting Blackstone’s commitment to the country. He attributed the firm’s positive outlook to India’s political stability, growing youth demographic, and increasing technology adoption.
In discussing market cycles, Schwarzman acknowledged the recent downturn but reassured that Blackstone remains confident in India’s long-term prospects. “The country’s fundamentals are strong, and its population is dynamic and tech-savvy. We believe in India’s future,” he stated. Reflecting on Blackstone’s journey in India, Schwarzman admitted that doing business in the country was challenging two decades ago. However, through perseverance and a focus on learning and adapting to the local environment, Blackstone has successfully navigated its investments. The firm now prioritizes owning and managing businesses, as opposed to just holding minority stakes, a strategy that has proved particularly successful in India.
