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.
Bhandari is gradually building a team, from both internal transfers as well as from external hires, to work on a rising number of investment opportunities, both actual and potential, across a number of sectors.
At least for the time being, most of his teamÆs work is within India. ôWe have deals in other places but theyÆre not moving at the same velocity as those within India,ö he explains. The new team will help ensure the fund remains geographically and sectorally diverse, he adds.
There are no immediate plans to launch India-themed or regionally themed versions of the Infrastructure Partners Fund, although he says that could become a possibility should the investment team end up with enough specific assets to warrant such a product.
He reports both to Sadek Wahba, global head of Morgan Stanley Infrastructure in New York, and regionally to John Myers, managing director in Hong Kong. The infrastructure fund already has offices in New York, Europe, Hong Kong and Beijing.
Bhandari says a lot of his time will be spent working on both companies with greenfield projects as well as companies that require capital to complete large, capital intensive, projects that are well underway. The firm is looking to work with both large and small developers with good execution capabilities; and to support bids by developers or contractors for mandates for specific projects.
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Investors are increasingly turning to private companies and private debt in their hunt for ESG alpha, but the age-old problem of transparency and due diligence remains
Already on the rise pre-Covid, investments into data centre assets in Asia have accelerated in the past year, fuelled by interest from investors across the spectrum.
Actively managed funds were also not found to have better odds of higher returns than more passive funds.