Sovereign Wealth Fund Increases Ownership in ILFS
The U.S. Department of Agriculture put out a projection for 2030, contending that India will go up in rankings and be crowned the third largest economy in the world behind China and the United States. India Prime Minister Narendra Modi was voted into power in 2014. After the widely-viewed election, billions worth of dollars of foreign capital from overseas sovereign wealth funds and pensions have trickled into India. Furthermore, private equity giants like KKR, TPG and Blackstone have been aggressively sourcing deals in India – sometimes at a loss. Blackstone’s investment in garment manufacturer Bangalore-based Gokaldas Exports was sold at a loss. Blackstone also lost money with its investment in Financial Technologies (India) Ltd, a programmer of trading software.
Sovereign Wealth Fund Ownership Percentage Increases
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