Blackstone to invest $2 bn every year in India; wants quicker M&A clearances
private equity major Blackstone Group is confident of investing USD 2 billion annually in India, a top official said on Wednesday. Its chief operating officer Jonathan D Gray pitched for a slew of measures to improve the ease of doing business for firms like it in India, including quicker approvals on mergers and acquisitions, easier privatisation of listed companies, and improvements in dispute resolution in commercial matters.
The New York-based group, which has been operational in India for nearly two decades, said Indian PE investments have delivered the highest return for it worldwide, and the investment in realty, which made it the largest landlord in the country, has also delivered well.
«We plan to invest around USD 2 billion every year in India,» its senior managing director Amit Dixit told reporters here.
The firm has invested a total of USD 50 billion in the country till now, and the value of its assets, after accounting for the exits, stands at USD 30 billion. It has an investment team of 75 people based in Mumbai who scout for assets across sectors.
Dixit said over the next five years, the value of assets is seen rising by USD 25 billion, including USD 17 billion in fresh bets and up to USD 7.5 billion value creation across portfolio companies, where it has already invested but is yet to exit.
Gray suggested some reforms while appreciating the work already done by the government, including the Insolvency and Bankruptcy Code and the Goods and Services Tax.
A merger and acquisition deal takes up to
