JPMorgan M&A Chief Sees $150 Bn Targeting India
Anu Aiyengar, JPMorgan Chase & Co.'s global head of mergers and acquisitions, revealed that investors have approximately USD 2 trillion in available funds for investment, with USD 100 billion to USD 150 billion of that directed towards India. In an interview with a media house, Aiyengar expressed optimism about India's investment landscape, stating that the combination of capital inflows into the Indian market and successful financial sponsor exits bodes well for increased investment in India.
She emphasised that India stands out due to its growth potential, stability, and the wide array of technology, healthcare and infrastructure solutions offered by numerous companies. Aiyengar also highlighted India's rapidly rising GDP as a key attraction for investors.
In contrast to the global decline in dealmaking activity in 2023, India has seen USD 33 billion worth of M&A deals year-to-date, although this is a 72 per cent decrease compared to the same period in 2022. JPMorgan has climbed to the second position globally for M&A volume in the current year, up from third place in 2022, according to Bloomberg's league tables.
Aiyengar pointed out the substantial infrastructure spending in India, with the emergence of infrastructure-only funds contributing to the country's investment landscape.
Regarding exit opportunities for asset owners, Aiyengar sees promising signs in the IPO market, which has been relatively quiet recently. She anticipates the adoption of dual-track dealmaking, where asset owners consider both IPOs and M&A deals for exiting their holdings, providing flexibility and the ability to compare valuations in the private and public markets.
