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Apollo plans to increase presence in India

7 Sep 2011

US private equity giant Apollo Global Management has plans to increase its presence in India, with a potential $1bn earmarked for strategic investments in the country within the next 12 months.

According to the Wall Street Journal , the firm is looking to invest in real estate, metals, auto components, media, oil and gas, and other natural resources. It will invest heavily in real estate, following its acquisition of Citi Property Investors last year, which gave it control over real estate assets in the country, and that three of its 15 partners currently operating in India are already focused on the sector.

Having made just two investments in India so far, Apollo has been slow to jump on the bandwagon for investment in the country compared to Carlyle, Blackstone, KKR and TPG, which have been pursuing an active pipeline of deals in India for the last five years.

The firm made its first investment in India in 2009, taking an 11 per cent stake in direct-to-home television company DishTV, and its second last month, when it acquired a $290m stake in Indian engineering giant Welspun Corp, the second largest large diameter pipe producer in the world.

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