Blackstone Group LP says it’s found the formula for making money in India, which has become its top-performing market globally after the firm began focusing on bigger buyout deals.
Over the past few years, Blackstone has started concentrating on select sectors like consumer and information technology where it expects India to see the most wealth creation, according to Senior Managing Director Amit Dixit. That shift, along with a preference for larger investment sizes, helped it generate returns as high as six times on recent exits in the country, a person with knowledge of the matter said.