Blackstone Group to invest $1 billion in India
By Our Market Bureau | 17 May 2005
Mumbai: New York-based investment and advisory group, The Blackstone Group, has announced an allocation of $1 billion for investments in India. The Group has appointed Akhil Gupta as the senior managing director in charge of its Indian operations.
The
Group will also be raising a dedicated fund for long-term continued investment
in India, according to a press release. Stephen A Schwarzman, chairman and
CEO of The Blackstone Group, said, "Globally, the fund's target investment
in the private equity space is between $100 million and $400 million. The
group has raised a total of approximately $32 billion for investment in alternative
assets since its formation. Its core businesses include private equity investing,
private real estate investing, corporate debt investing and corporate advisory
services."