US Giant Ventures into New Cities and Unconventional Assets to Stay Ahead
Blackstone, the world’s largest alternative assets manager, is revamping its strategy in India’s $300 billion real estate market. The US investment giant is venturing into new cities and unconventional assets to sustain its edge over foreign rivals. With a $50 billion portfolio in India, Blackstone is focusing on niche assets like neighborhood clinics, student dorms, and data centers.
Tuhin Parikh, Vice Chairman of Blackstone’s Asia real estate business, said, “The market matured much faster than people expected. That doesn’t mean returns disappear. It means you have to work harder for them.” Blackstone’s tenant roster includes global names like Alphabet, Meta, Amazon, and JPMorgan Chase & Co.
The firm has been investing in India for over a decade, and its portfolio includes office spaces, retail centers, and logistics hubs. With the country becoming its biggest real estate bet outside the US and the UK, Blackstone is now diversifying into credit, digital infrastructure, renewables, and data centers.
“India’s growth story is broader now, and so is our mandate,” said Asheesh Mohta, Head of Real Estate India at Blackstone. The firm is exploring new areas like private credit, as banks turn cautious, and is looking to amass $100 billion of investments in India across real estate and other sectors.
Image Courtesy: Bloomberg
