Warburg Pincus’ US$8bn investment
New York-headquartered #Warburg Pincus may invest US$8 billion in India over the next 10 years, twice of what it did in two decades, its senior executives said.
“We never believe in numberical targets and do not set investment allocations by region. But frankly, if we couldn’t deploy more than that amount within half the time, I would say, all of us will be disappointed,” the Economic Times quoted Co-Chief Executive #Charles R Kaye as saying.
“India is at an interesting inflection point and is a very compelling investment destination for us,” said Kaye.
“This is one of the prolific regions for us. Warburg Pincus has represented approximately four per cent of PE-type money in India over the last 20 years and 10 per cent of returns, making India an extremely successful market for us,” added #Joseph P Landy in the ET interview.
As mavericks instrumental in establishing the PE cult in India in the 1990s, Kaye and Landy arae most modest.
“Perfect markets are not necessarily the ideal markets where you can get fantastic returns. By working through the challenges, we have found and will continue to find great opportunities,” said Landy, downplaying the legacy challenges of land and labour that most global investors blame for hobbling growth potential.
Warburg has deployed US$3.8 billion in 51 Indian companies as diveerse as Kotak Mahindra Bank, Alliance Tire, Ambuja Cement and Laurus Lambs in 1997. It is looking to deepen its involvement in the India, the executives said. fii-news.com