Blackstone’s Jon Gray: India is the second-easiest place to list (opens the source in a new tab)
- Blackstone’s chief operating officer says India is the firm’s best-performing market and it wants to double its investment there to $100bn in five years, from about $50bn now.
- Gray concedes that wars, energy costs, rising rates and heavy AI spending may squeeze asset multiples, but calls India’s pullback a better entry point for a patient investor, citing growth above 7% and a young population.
- He points to liquid markets, including a $1bn-plus share sale in August, and says Indian IT firms are turning into AI deployment partners.
- $100bn
- five-year target in India
- $50bn
- deployed today
Why it matters A heavyweight global investor still treats India as a long-term allocation and sees the dip as a buying chance, which matters while foreign portfolio investors have been pulling money out this year.
Other side A big investor talks its own book: Blackstone gains if Indian valuations and listings stay strong. Public-market money moves faster, and Gray concedes it can be fickle.