Commodities tycoon Anil Agarwal is planning to invest $10 billion through a new partnership targeting government privatisations in India.
Teaming up with London-based Centricus Asset Management Ltd, Agarwal is looking for investments in Indian companies, offering significant growth opportunities, said a report by Bloomberg Quint. Showing an interest in the country's Rs. 2.1 trillion disinvestment program, the partners are keen on turning around companies being sold off.
The entrepreneurial dynamism in India “can be harnessed to unlock incredible transformation in the public sector,” Agarwal said in the statement. “We believe that this strategy can, and will, play a crucial role in the country’s ongoing industrialization.”
Providing professional help and better management, Anil hopes to help these former government companies by making their transformation into private sector companies easier and more efficient.
Agarwal and Centricus have been wanting to raise capital from international investors to deploy these turnaround opportunities in India. According to an insider report, they have been planning a fund with a 10-year life span that will use a private equity-type strategy, buying into companies and boosting their profitability before seeking an exit.
Centricus was founded in 2016, by a former investment banker and oversees $28 billion in assets. Agarwal is a former metals trader, who has an eye for ambitious acquisitions and has built a strong business over the past few decades.
