GQG founder to meet Australian investors after Adani investment

10 Mar 2023 CW Team

GQG Partners Inc founder Rajiv Jain will meet with clients and investors in Australia this week to discuss, among other things, the firm's investment in the troubled Indian conglomerate Adani Group.

GQG Partners purchased shares in four Adani group companies worth $1.87 billion, the first major investment in Adani since a short-critical seller's report in January sparked a stock rout.

An Australian pension fund client of GQG has expressed concern about the stake purchase, which comes at a time when major investors, including Norway's sovereign wealth fund, are selling Adani shares.

Jain is meeting in person with some of GQG's clients while holding conference calls with others. "It's also an opportunity to answer any questions they have about the business, including the Adani investment," GQG said, adding that this is Jain's first visit to Australia since the company went public on the ASX in 2021.

GQG paid $662 million for 3.4% of Adani Enterprises, $640 million for 4.1% of Adani Ports and Special Economic Zone, $230 million for 2.5% of Adani Transmission, and $340 million for 3.5% of Adani Green Energy.

According to the filings of the Indian firms, it purchased the stock from the Adani family trust.

GQG manages equity funds for institutional investors in and outside the United States, including mutual funds, private funds, public agencies, and sovereign funds, according to some analysts.

According to its filings, the Americas account for more than two-thirds of the funds under management of the Australia-listed investment firm. GQG received net flows of $3 billion in January and February, accounting for more than two-thirds of the total for 2022.

Also Read
Locals in Chinchinim, Goa oppose purchasing further land to widen NH66
New road safety centre initiated by Chandigarh Road Safety Society

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..