Blackstone Carving a Niche in Indian Real Estate

March 30, 2007	(Be the first to rate this story!)  Loading ...
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Blackstone, a leader in the field of private equity investing since 1987, is planning to raise $4 billion from an Initial Public Offer (IPO) in the US. This is believed to further boost investments in India after closing the public issue.

At present, the current investment of the group has already reached sky high with $2.5 billion, while it has also announced to create a $5 billion fund with Citigroup Inc. to make investments in a number of Indian infrastructure projects.

The group regards India as an emerging force in real estate industry and sees a large market for its future plans. It envisages beefing up its investment portfolio and its executive team in the country.

The company has set up one of its establishment in India in 2005 and hired Amit Dixit, previously a prinicipal at Warburg Pincus in New York, to be a part its India team in the financial capital of the country, Mumbai.

Blackstone is showing large inclination for various sectors including IT, media, technology, and banking for its future India investment plans.

Two New York Stock Exchange (NYSE) listed funds of the PE giant – Asia Tigers Fund and the India Fund have put a whopping $2 billion dollars ion the shares of Indian conglomerates.

The India Fund is known to have made an investment of over 98 per cent money in Indian stocks, totaling $1.88 billion. Wishing to carve out a substantial niche in Indian real estate, Blackstone has established a real estate operations office in Mumbai in 2007 to search the prospects in this fast flourishing sector.

News Published Under:   Real Estate India |

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