Brookfield Plans to Raise India Bet to $100 Billion in 5 Years

Brookfield Asset Management plans to ramp up its investments in India to $100 billion over the next five years, from $30.6 billion currently, as part of a broader strategy to double its global assets under management (AUM), President Connor Teskey said on Thursday.

- DEV CHATTERJEE

The New York-based alternative asset major, which manages more than $1 trillion across renewables, infrastructure, private equity, real estate, and credit, expects its global AUM to reach $2 trillion within the same timeframe.

"We expect our global business to more than double over the next five years," said Teskey, 38, who is widely expected to become Brookfield's next global chief executive officer.

"If that is the case, then in high-growth regions like India, where we see powerful tailwinds and enormous opportunity, it's entirely reasonable to expect our exposure to triple or even quadruple. I fully expect our Indian platform to be a $100 billion business in the near term," Teskey said at a media interaction.

Brookfield's bullish outlook highlights its long-term confidence in India's role in the global real asset economy.

Over the past 15 years, the firm has emerged as one of India's largest foreign investors, deploying $12 billion each in infrastructure and real estate, $3 billion in renewable power (where it owns 43 gigawatt of assets), and $3.6 billion via its private equity and special investments division.