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Blackstone Group to enter private debt market in India

06 April, 2017

Blackstone Group LP is planning a private debt foray in India, a financial daily stated on Thursday.

The firm will make debt investments from its second fund launched through its Tactical Opportunities Group, a report in Mint stated citing Amit Dixit, Blackstone’s senior managing director and head of Indian private equity.

The firm is currently evaluating several large deals in India and is focussing on “promoter financing and structured equity for last mile financing,” the report added.

Blackstone Group’s Tactical Opportunities Fund II follows the first fund, which closed in March 2014 with $5.6 billion. The second fund closed at over $6 billion in early 2016. The fund invests across asset classes, industries and geographies.

Email queries sent to the Blackstone Group seeking confirmation did not elicit a response at the time of filing this report.

In recent times, several other firms and individuals have risen to take advantage of private debt opportunities.

Earlier this year, KKR marked the pre-close of its second credit fund, which will have a private equity approach for a debt market. KKR’s first credit fund of Rs 1,500 crore, launched in 2013, is fully deployed.

IDFC Alternatives, the alternative asset investment arm of infrastructure lender IDFC Ltd, is also adding a debt fund to its portfolio.

Former Baring Asia Managing Director Bala Naidu is floating a $600 million multi-asset firm which will include a debt component.

Earlier, VCCircle reported that Baring Asia was launching a credit platform, and in 2015, VCCircle reported that IL&FS PE was adding a debt fund to its portfolio.

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Blackstone Group to enter private debt market in India

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