Blackstone aims to double its investment exposure in India to $100 billion over approximately five years, President and Chief Operating Officer Jonathan Gray said, signalling continued confidence in the country despite near-term market pressures.
“In five years, we’d love that number to be $100 billion,” Gray told The Economic Times, referring to its current $50 billion exposure. Expansion could span private equity, real estate, infrastructure, credit and growth equity. The figure represents an ambition, with investment dependent on identifying suitable businesses.
Gray described India as Blackstone’s best-performing market. He pointed to economic growth exceeding 7%, a young population and rising household incomes as factors supporting demand for healthcare, housing, travel and financial services.
He also highlighted the strength of India’s capital markets, describing the country as probably the easiest place after the United States to list a company. Accessible public markets, he said, help private investors realise investments and return capital to their backers.
While higher energy costs, currency depreciation and concerns about AI’s impact on IT services have affected sentiment, Gray maintained that India’s longer-term investment prospects remain attractive.
Blackstone’s recent announcements provide further context for its expansion plans. In July, the firm launched an Asia-Pacific infrastructure platform and appointed Ami Momaya as Managing Director and Head of Infrastructure for India. The appointment underscored its intention to develop infrastructure investing in the region. Momaya previously held senior investment roles at the National Investment and Infrastructure Fund and Morgan Stanley Investment Management.
Artificial intelligence infrastructure is another area where Blackstone has announced substantial commitments. In February 2026, Blackstone-affiliated funds and co-investors entered into definitive agreements to invest in Indian AI cloud platform Neysa, supporting a planned $1.2 billion capital raise.
The financing structure comprised up to $600 million in equity, with Neysa intending to secure another $600 million in debt, subject to documentation. The funding was intended to support expansion and the planned deployment of more than 20,000 GPUs in India.
Founded in 2023, Neysa develops and operates AI systems within the country, providing infrastructure for enterprises and institutions to train, fine-tune and deploy AI workloads. Its customers span financial services, technology, healthcare and public services.
Blackstone also announced the final close of its third Asia private equity fund at $13.1 billion in June, exceeding a $10 billion fundraising target. The firm said it had invested more than $7 billion across 12 regional transactions over the preceding 24 months, while recording 15 exits with realisations.
Those investments included Neysa, while exits included the listings of International Gemological Institute and Aadhar Housing Finance. The activity illustrates the combination of business investment and public-market exits underpinning Blackstone’s regional strategy as it pursues further growth in India.
