India plagued with slowing economy, lack of finance: Blackstone’s Stephen Schwarzman
India is plagued with a slowing economy and lack of finance currently, Blackstone’s chairman Stephen Schwarzman said, hinting that the global private equity major may be interested in distressed asset play in the country. Speaking to reporters at the IIT-Bombay, he also said the country is lacking the robustness in financial institutions.
Blackstone has been present in India since 2006 and has invested $15 billion in the country, including private equity play in enterprises and also bets on realty.
Schwarzman, who is also the chief executive and co-founder of Blackstone, said his company is “bullish” on India, but from a long term perspective.
Source: MoneyControl
