A reform-oriented government, weak rupee, bumper exits and newer opportunities in bankruptcy and structured capital solutions should provide Blackstone, the world’s largest private equity firm, the ideal environment to re-position itself as an aggressive acquirer of local assets in 2019, said chairman Stephen Schwarzman, in a recent interview with the Economic Times.
“We have done remarkably well as a firm since 2015… became the largest commercial landlord in India,” Schwarzman told ET in an interview.
Blackstone, which globally manages about $457 billion, changed its strategy after the initial turbulent years when many of its infrastructure investments went south. Today, India is the top performing geography globally for the firm.
From minority investments, the switch to buyout deals helped it stand out. The firm has the philosophy of building businesses and not investing in businesses.
Beyond technology or other export-oriented sectors that earn in foreign currencies, the focus is on domestic consumption – financial services and consumer companies.