Rajiv Jain was born and raised in India. In the Nineteen Nineties, he moved to the United States. (File)
One of the largest success tales within the Indian inventory market not too long ago is that of GQG Partners. The funding agency is run by Rajiv Jain, an Indian who immigrated to the United States of America. He purchased shares of 4 firms of an Indian conglomerate in March. Less than three months after that, he has earned almost 1.1 billion {dollars} (round Rs 9000 crore). Who is Rajiv Jain? How did he earn a lot cash in so little time?
Jain had invested over Rs 15446 crore in Gautam Adani’s 4 firms — Adani Enterprises, Adani Green Energy, Adani Ports and SEZ and Adani Transmission — on March 2 this yr. On May 22, the worth of the corporate’s shares was Rs 23,129 crore, a 50 % soar on the principal funding.
When he purchased the shares, the Adani Group was firefighting a bunch of allegations levelled by American short-seller Hindenburg. The US agency had alleged inventory manipulation and monetary misappropriation on the a part of the Adani Group. The explosive report was dismissed by the Group. However, by that point, the Adani Group’s share values and Gautam Adani’s web value had plummeted. An SC-appointed panel, nevertheless, declared it discovered no conclusive proof of wrongdoing by the conglomerate.
He had earlier invested 1.87 billion {dollars} within the firm. He elevated his firm’s publicity within the Indian firm to 2.4 billion {dollars}.
Rajiv Jain not too long ago stated in an interview that over the subsequent 5 years, his firm wish to develop into one of many largest buyers in Adani Group. The firm pegs the worth of its holdings in Adani Group at 3.5 billion {dollars}. This means a revenue of 1.1 billion {dollars}.
Who is Rajiv Jain?
Rajiv Jain was born and raised in India. In the Nineteen Nineties, he moved to the United States to pursue an MBA on the University of Miami. Four years later he joined a Swiss funding agency referred to as Vontobel Asset Management. He quickly grew to become the star supervisor of the corporate. He rose to the coveted rank of Chief Investment Officer at Vontobel. He managed belongings value 50 billion {dollars}.
In 2016, he ended his over twenty years lengthy affiliation with Vontobel and launched his personal firm. The firm obtained listed on the Australian Securities Exchange in 2021.
His agency, GQG Partners, principally invests in rising markets. After the 2021 IPO, the corporate had generated round 1.18 billion {dollars}.
According to experiences, Rajiv Jain purchased his first inventory when he was in Class 10.
He is a local of Rajasthan. He owns round 70 % of the corporate. His stakes had been value 2 billion {dollars} earlier than he invested within the Adani Group.
He is 55 years of age. He is a macro investor. He invests in firms that both have monopolies or large market shares in any specific sector. Over 50 % of his holdings are invested in Brazil and India, two of the quickest rising economies on the earth.
His firm holds shares value 13 billion {dollars} in India and plans to purchase extra. It holds shares in ITC, Sun Pharma, SBI, ICICI and HDFC.
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