India an Appealing Market Right Now Say Mr Anuj Ranjan, Brookfield .
Long-term growth opportunities, combined with a short-term capital dislocation, make India a very appealing investment destination for Canadian asset manager Brookfield, which manages over $500 billion in assets globally.
“The amount of growth that we are going to see combined with the fact that we do have a short-term dislocation of capital today, make it (India) very appealing. So this is our most attractive market in the world today, and we will continue to put in more capital,” said Anuj Ranjan, managing partner and chief executive of Middle East and South Asia, Brookfield Asset Management, at the Mint India Investment Summit & Awards 2020 held in Mumbai on 4 and 5 March.
India is among Brookfield’s top markets globally where it wants to put in more capital to work, Ranjan said.
“We love environments where there is a long-term trajectory that is positive and we genuinely think India has all the right ingredients to be a $5 trillion or more economy,” he said.
Last year, Brookfield emerged as the largest private capital investor in India as it invested nearly $6.28 billion across private equity, infrastructure, and real estate sectors, according to deals tracker Venture Intelligence.
Its investments, including two deals totalling $5.47 billion with Mukesh Ambani-controlled Reliance Industries Ltd (RIL), catapulted Brookfield’s total investments in the country to $8.3 billion in the five-year period through 2019.
Its $3.6 billion buyout of the telecom infrastructure assets of RIL’s subsidiary Reliance Jio Infocomm Ltd was the largest ever deal in India made by a private equity investor. It also invested more than $1.87 billion in RIL’s gas pipeline assets, East West Pipeline Ltd. “You will see us being quite active across the areas that we are already in, like real estate and infrastructure, but you will also see us more active in areas such as private equity where we have recently started to foray into financial services,” said Ranjan.
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