Blackstone plans to double India investments to $100 billion
Blackstone, the world's biggest alternative asset manager, wants to double its India investments to $100 billion over the next five years.
It has already put in about $50 billion in India and now it is looking to go even bigger.
Jonathan Gray, Blackstone's COO, says the company sees a lot more room to grow in these sectors.
Jonathan Gray cites India market growth
Gray points out that India's capital markets have grown massively, about five-and-a-half times in two decades, and it is now one of the best places for companies to go public after the United States.
Even though some foreign investors have pulled back recently due to higher energy costs, Gray is optimistic they will return if earnings keep rising.
As he puts it: "Given the long-term fundamentals and rising middle class, there are a lot of 'interesting places to deploy capital.'"