Blackstone aims to double its $50 billion India investment over the next five years. President Jonathan Gray said, "India's expanding economy and stock market have changed how global investors view the country." The firm focuses on data centres and healthcare, while also betting on cricket through Royal Challengers Bengaluru ownership.
Blackstone's $100 billion India target | Blackstone has around $50 billion invested in Indian real estate and companies. President and COO Jonathan Gray told CNBC-TV18 that the firm aims to double this investment over the next five years, subject to India's continued economic growth and supportive government policies.
India's growing role in global portfolios | Gray said India's expanding economy and stock market have changed how global investors view the country. He sees India becoming a core market for investors and businesses looking to participate in its growth, including through manufacturing investments.
India's growth and investment opportunities | Gray pointed to India's recent economic growth, skilled workforce, technology capabilities and infrastructure as factors supporting its potential. He said Blackstone focuses on building businesses in sectors such as data centres, healthcare and shopping centres to serve the expanding market.
Can India's IT companies adapt to AI? | Amid concerns about artificial intelligence disrupting India's IT services industry, Gray said companies could adapt by helping clients adopt AI and change their business processes. He believes firms that sustain revenue and earnings growth could see their market valuations rise again.
India's capital markets remain a strength | Gray highlighted India's IPO market, the liquidity available to companies and the role of public markets in long-term capital formation. He said domestic investors had continued to support the market even as foreign investors pulled money out amid concerns over energy prices and AI-led disruption.
Why foreign investors could return to India | Gray said foreign investors could return as they look for growth opportunities around the world. He pointed to India's economic expansion and earnings growth, arguing that a long-term approach can help investors look beyond short-term market concerns.
Blackstone's long-term India bet | Gray said market volatility can create opportunities to invest in businesses and real estate at more reasonable valuations. He recalled that Blackstone continued investing through earlier periods of pessimism about India and said the firm remains focused on building companies over the long term.
Why Blackstone invested in RCB | Blackstone's investment in Royal Challengers Bengaluru reflects its interest in India's sports market. Gray said the combination of a large population, economic growth and the popularity of cricket made owning a team an attractive way to express the firm's confidence in the country. He also said he hoped to attend a game in the spring.
Scarce assets in an AI-driven world | Gray sees sports, live entertainment, beachfront property and art as assets that could retain their appeal as AI changes businesses and work. Unlike many digital services that can scale rapidly, these experiences and assets remain limited, making them an area of interest for investors.