Blackstone Commits $5 Million to India in Pandemic Aid

The Wall Street-headquartered alternative investment management giant Blackstone, which has over USD 20 billion in live-investments in the country, on April 28th announced a USD 5-million (close to Rs 40 crore) aid to help India to fight the raging coronavirus pandemi

BY Realty Plus
Published - Friday, 30 Apr, 2021

Blackstone Commits $5 Million to India in Pandemic Aid

The Wall Street-headquartered alternative investment management giant Blackstone, which has over USD 20 billion in live-investments in the country, on April 28th announced a USD 5-million (close to Rs 40 crore) aid to help India to fight the raging coronavirus pandemic. The announcement by Stephen A Schwarzman, the founder and chairman of the fund, comes on the heels of close to 40 major American companies committing millions of dollars to help the country fight the pandemic which has been topping the infection list globally for a week with daily caseload remaining above 3.25 lakh mark for almost a week now. The Blackstone Chief Executive said a part of the money will also be used to address the severe shortage of oxygen concentrators and ventilators; and to assist vaccine education programmes as there is lot of vaccination hesitancy here, apart from assuring equitable distribution of vaccines as they become available. India is facing an alarming crisis from the pandemic and I am profoundly concerned about its human impact. Blackstone has deep roots in India having entered the country way back in 2006.We need to corral our resources to support India's relief and vaccination efforts at this critical time. The international community is grateful to the frontline workers who are putting in tremendous efforts on behalf of all Indians, Schwarzman added. India is one of Blackstone's most successful investment destination with the market that has been giving it the highest returns. It has over USD 20 billion in live-investments in the country which is valued at over USD 40 billion now.