Source: The Hindu Business Line, July 23, 2017
Mumbai: Global private equity firm Blackstone Group is exploring setting up an asset reconstruction company (ARC) in India to tap the opportunity thrown up by bad loans approaching Rs10 trillion, two people aware of the development said.
“Blackstone is keen on the stressed assets space in India. They have been assessing the opportunity for some time and now they are looking to set up an ARC to tap into the growing opportunity and are in talks with experts in the field for the same,” said one of the two people cited above, requesting anonymity as the talks are private.
“As a matter of policy, Blackstone does not comment on media/market speculation,” a Blackstone spokesperson said in an email response to a query.