Private credit might be less attractive than it was last year as investors rush into the market, but there are sweet spots to be found.
Sternlicht comments: ôWe have been targeting India as an important investment market for our firm. It was important for us to find a veteran investor to oversee our efforts in this exciting but surely complex market. BalajiÆs diversified 22 year career in India, along with his proven track record for building value for investors, makes him a rare and uniquely qualified executive to lead our efforts there.ö
Rao added: ôI have spent my career identifying and capitalising on real estate opportunities, even in sometimes difficult markets. Now, with foreign investment opportunities and return rates both on the rise, the time is clearly right to help build Starwood into one of IndiaÆs premier property investors.ö
Rao moved to TCG Group in 2001 and in the last five years has helped develop eight commercial real estate projects in five Indian cities. Prior to joining TCG Rao was head of property for India at ANZ Grindlays where he also oversaw the bankÆs property portfolio. Rao moved to Grindlays from Standard Chartered Bank where he oversaw the mortgages and business financial services division.
During the past fifteen years Starwood and its affiliates have invested approx $5.8 billion of equity capital in transactions totalling more than $15.9 billion. Starwood was in the news recently for the acquisition of Groupe Taittinger of France.
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Hesitancy aside, institutional investors eye Australia and Japan as promising geographies for private debt investments within Asia Pacific, with Greater China and Korea on the periphery.
While Asia still lags the global average, interest in sustainable projects is growing fast; the only thing needed now is the expertise to drive growth
Regulators keep their eyes open on tightening insurance industry by introducing more detailed risk management requirements, which could bring pressure on smaller players.